Harmonized code or HS Code is actually inevitable aspect of this import export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Its used to describe particular goods your past 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 operations. It is an eight digit code which includes been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a special ID assigned to a particular trading product, which is by simply more than 200 countries across the world.
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 listing. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is a range of such codes classified under 21 pieces. 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 separated into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all of the forms as well important paperwork that to be able to filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in hitting the ground with the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign return. 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 product coding with a lot of of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the online world with the online data brands like Infodrive India. Besides providing an end HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods it really is quite entering the product’s bands.