Harmonized code or HS Code is actually inevitable aspect within the import export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from nation 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 by the 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 from the country. The code is basically, a good ID assigned any particular trading product, which is utilized by more than 200 countries across earth.
dgft IE Code Online Registration in India India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code listing. The authority does periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is 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. All of these 21 sections is further divided into 98 sections. The chapters are further put into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all the forms and also important paperwork that become filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in experience with the code mentioned inside of 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 watch for a particular segment of items. The list presents the full product coding with variety of of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the web with the internet data the likes of Infodrive Sweden. Besides providing a comprehensive HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s bands.