Harmonized code or HS Code a great inevitable aspect for the import export commerce. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. In order to used to describe particular goods in the Import Export Code Application Online India 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 which been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a rare ID assigned a new particular trading product, which is by simply 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 regarding existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding the particular defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, may a range of such codes classified under 21 business units. 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 split up into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms as well important paperwork that to be able 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 experience with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it have been very troublesome for the traders to watch for a particular segment of merchandise. The list presents the full product coding with a number of categories, simplifying the task of importers and exporters. You could access this code list over the web with the online data businesses like Infodrive India. 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 makers.