Harmonized code or HS Code a great inevitable aspect of this import export trade. It is a unique numerical code used on various products and commodities required while shipping from nation to another. Around the globe used to describe particular goods in the 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 action. It is an eight digit code provides been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a fashionable ID assigned any particular trading product, which is utilized by 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 does periodical activities like commodity description, weeding beyond defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, which 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. Each of these 21 sections is further broken into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all the forms along with important paperwork that must be filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in hitting the ground with the code mentioned in the papers. Hence one can say 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 the traders to search for a particular segment of items. The list presents the full product coding with variety of categories, simplifying a job of importers and exporters. You could access this code list over the world wide web with the internet data the likes of Infodrive Sweden. Besides providing a comprehensive HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s makers.