Harmonized code or HS Code can be an inevitable aspect of the import export make trades. It is a unique numerical code sent 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 IEC Code Online Application India 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 action. It is an eight digit code which has been developed at par with the international coding system to suit vehicle of the international trading community from 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 planet.
DGFT 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 pursuits like commodity description, weeding out of defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, and also a range 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. Each of these 21 sections is further separated into 98 chapters. The chapters are further divided into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all of the forms as well important paperwork that needs to filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in hitting the ground with the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it would have been very troublesome for participants to investigation for a particular segment of items. The list presents the full product coding with amount of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the world wide web with the online data businesses like Infodrive Indian. Besides providing a comprehensive HS tariff list, the corporate has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s names.