Harmonized code or HS Code is an inevitable aspect of this import export make trades. It is a unique numerical code used on various products and commodities required while shipping from one country to another. It is used to describe particular goods your 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 action. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a unique ID assigned to a particular trading product, which is utilized by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, along with that is a collection 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 put into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all of the forms along with important paperwork that to be able to filled up at time 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 inside of the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of products. The list presents the entire product coding with amount of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the web with the internet data brands like Infodrive Sweden. Besides providing a complete HS tariff list, organization has also provided an internal search box for searching the codes of particular goods it really is quite entering the product’s companies.