Harmonized code or HS Code a good inevitable aspect within the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. It is used to describe particular goods within the import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from the Director General of Foreign Trade or dgft IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import procedure. It is an eight digit code which includes been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a unique ID assigned a new particular trading product, which is through 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 previously existing harmonized code place. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, may a bunch of such codes classified under 21 sectors. 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 put into 98 chapters. The chapters are further put into sub-headings this agreement particular HS Codes to target different products are mentioned.
Every trader dealing in international market has post the particular code associated with his product in all of the forms as well important paperwork that must be 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 executed in hitting the ground with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the internet with the internet data the likes of Infodrive The indian subcontinent. Besides providing additional HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s such as :.