Harmonized code or HS Code can be an inevitable aspect within the import export dealings. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Its 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 by the 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 which has been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a fashionable ID assigned any particular trading product, which is by simply more than 200 countries across entire world.
dgft IE Code Online Application Procedure India India in the governing authority that looks after the changes or formulation or addition of new codes the actual existing harmonized code place. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, along with that is 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. All of these 21 sections is further divided into 98 chapters. The chapters are further split up into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all the forms along with important paperwork that end up being filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in hitting the ground with the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, end up being have been very troublesome for participants to watch for a particular segment of products. The list presents the product coding with variety of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the internet data the likes of Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, vehicle has also provided an internal search box for searching the codes of particular goods simply by entering the product’s such as :.