Harmonized code or HS Code is actually inevitable aspect for the import export commerce. It is a unique numerical code assigned to various products and commodities Documents required for Import Export Code Registration Online while shipping from one country to another. Its used to describe particular goods within the import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a fashionable ID assigned any particular trading product, which is simply by more than 200 countries across earth.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code place. The authority does periodical activities like commodity description, weeding the defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a range of such codes classified under 21 sectors. The 21 sections include Animals & Animal Products; Vegetable Products; Animal or Vegetable Fats; Prepared Foodstuffs; Mineral Products; Chemical Products; Plastics & Rubber; Hides & Skins; Wood & Wood Products; Wood Pulp Products; Textiles & Textile Articles; Footwear, Headgear; Articles Of Stone, Plaster, Cement, Asbestos; Pearls, Precious Or Semi-Precious Stones, Metals; Base Metals & Articles Thereof; Machinery & Mechanical Appliances; Transportation Equipment; Instruments – Measuring, Musical; Arms & Ammunition; Miscellaneous; and Works Of Art. 1 of these 21 sections is further broken into 98 sections. The chapters are further split up into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all the forms and also important paperwork that end up being filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in example of the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of products. The list presents the entire product coding with variety of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the online world with the internet data brands like Infodrive Indian. Besides providing a comprehensive HS tariff list, organization has also provided an interior search box for searching the codes of particular goods simply by entering the product’s such as :.
