Harmonized code or HS Code a great inevitable aspect for the import export commerce. It is a unique numerical code sent to various products and commodities Documents required for Import Export Code Registration Online while shipping from one country to another. Around the globe used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained your 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 been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a fashionable ID assigned the particular trading product, which is used by more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code list. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, which is a number 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. 1 of these 21 sections is further put into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code number of his product in all of the forms and other important paperwork that become filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished 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, might have been very troublesome for participants to search for a particular segment of items. The list presents the whole of the product coding with amount of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the internet data businesses like Infodrive Indian. Besides providing additional HS tariff list, the company has also provided an interior search box for searching the codes of particular goods it really is quite entering the product’s bands.