Harmonized code or HS Code a great inevitable aspect within the import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from one country 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 through Director General of Foreign Trade or dgft IE Code Online Registration in India India. The international coding system has been adopted in India for export import action. It is an eight digit code provides been developed at par with the international coding system to suit vehicle of the international trading community of the country. The code is basically, a rare ID assigned to a particular trading product, which is utilized by more than 200 countries across the world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes in existing harmonized code guidelines. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a bunch 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. All of these 21 sections is further divided into 98 sections. 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 to note the particular code regarding his product in all the forms as well important paperwork that end up being filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in hitting the ground with the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of items. The list presents the whole of the product coding with a lot of of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the online data brands like Infodrive Indian. Besides providing an end HS tariff list, organization has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s companies.