Harmonized code or HS Code a good inevitable aspect of this import export trade. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Its used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which has been developed at par with the international coding system to suit vehicle of the international trading community belonging to the country. The code is basically, a rare ID assigned using a particular trading product, which is used by more than 200 countries across society.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, and also a collection 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 divided into 98 sections. The chapters are further split up into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has post the particular code connected with his product in all the forms and other important paperwork that become filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience with the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with a number of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the web with the Apply IEC Online India data manufacturers like Infodrive Of india. Besides providing a complete HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods by way of entering the product’s makers.