Harmonized code or HS Code a great inevitable aspect of this Import Export Code Application Online India export deal. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. It is used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained by the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import function. It is an eight digit code that has been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a good ID assigned any particular trading product, which is through more than 200 countries across earth.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding the defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, along with that is a range of such codes classified under 21 sections. 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. Both these 21 sections is further put into 98 sections. The chapters are further separated 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 connected with his product in all the forms as well important paperwork that end up being filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience with the code mentioned inside of 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 participants to search for a particular segment of merchandise. The list presents the product coding with variety of categories, simplifying the duty of importers and exporters. You can easily access this code list over the web with the internet data manufacturers like Infodrive India. Besides providing an end HS tariff list, vehicle has also provided an internal search box for searching the codes of particular goods it really is quite entering the product’s companies.