Harmonized code or HS Code is actually inevitable aspect of this import export deal. 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 Registration Online India India. The international coding system has been adopted in India for export import action. It is an eight digit code that has 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 good ID assigned the particular trading product, which is through more than 200 countries across the planet.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, may a range 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. 1 of these 21 sections is further divided into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all of the forms and other important paperwork that needs to filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are executed in reference to the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of products. The list presents the full product coding with amount of categories, simplifying the task of importers and exporters. You can potentially access this code list over the online world with the online data brands like Infodrive Of india. Besides providing a detailed HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods via entering the product’s bands.