Harmonized code or HS Code is an inevitable aspect in the Import Export Code Application Online India export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. In order to 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 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 automobile of the international trading community for the country. The code is basically, a unique ID assigned any particular trading product, which is used by more than 200 countries across the planet.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code place. The authority does periodical pursuits like commodity description, weeding the defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a collection 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. Every these 21 sections is further broken into 98 sections. The chapters are further put into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all of the forms as well important paperwork that must be filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in experience of the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of products. The list presents the entire product coding with a lot of of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the internet with the online data manufacturers like Infodrive The indian subcontinent. Besides providing an end HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s names.