Harmonized code or HS Code can be an inevitable aspect of this import export deal. 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. Is 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 procedure. 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 belonging to the country. The code is basically, a unique ID assigned using a particular trading product, which is by simply more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a number 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 divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all the forms and also important paperwork that needs to filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in reference to 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, it have been very troublesome for participants to search for a particular segment of items. The list presents the sum of the product coding with amount of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the world wide web with the internet data companies like Infodrive Indian. Besides providing additional HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods it really is quite entering the product’s such as :.