Harmonized code or HS Code a good inevitable aspect in the import export trade. It is a unique numerical code used on various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. Its 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 your 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 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 using a particular trading product, which is used by more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list. The authority carries out periodical activities like commodity description, weeding the particular defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a collection 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. Both these 21 sections is further separated into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code regarding his product in all the forms because important paperwork that needs to filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are executed in hitting the ground with the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of merchandise. The list presents the whole of the product coding with a lot of of categories, simplifying a job of importers and exporters. You could access this code list over the online world with the internet data businesses like Infodrive Of india. Besides providing a comprehensive HS tariff list, vehicle has also provided an internal search box for searching the codes of particular goods by way of entering the product’s companies.