Harmonized code or HS Code a great inevitable aspect of this import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Its used to describe particular goods regarding 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 procedure. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a good ID assigned to a particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, along with that is a selection 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. All of these 21 sections is further put into 98 chapters. The chapters are further separated into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code number of his product in all the forms and other important paperwork that needs to filled up at time of Import Export Code Application Online India and export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in hitting the ground with the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for participants to investigation for a particular segment of products. The list presents the entire product coding with variety of categories, simplifying a job of importers and exporters. You can potentially access this code list over the net with the online data manufacturers like Infodrive India. Besides providing a comprehensive HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods simply by entering the product’s such as :.