Harmonized code or HS Code can be an inevitable aspect in the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. In order to used to describe particular goods your 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 procedure. It is an eight digit code which 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 rare ID assigned using a particular trading product, which is simply by more than 200 countries across the planet.
dgft IE Code Online Application Procedure India India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding out of defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, may a number of such codes classified under 21 business units. 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. Both these 21 sections is further separated into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code number of his product in all the forms because important paperwork that end up being filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are finished in experience of the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, end up being have been very troublesome for the traders to watch for a particular segment of merchandise. The list presents the sum of the product coding with a number of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the online data companies like Infodrive Of india. Besides providing a comprehensive HS tariff list, the corporate has also provided an interior search box for searching the codes of particular goods via entering the product’s makers.