Harmonized code or HS Code a great inevitable aspect in the import export trade. It is a unique numerical code allotted to various products and commodities required 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 action. It is an eight digit code which includes been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a unique ID assigned any particular trading product, which is used by more than 200 countries across the world.
dgft IE Code Registration Online India India in the governing authority that attends to the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority carries out periodical activities like commodity description, weeding out of defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, may a bunch 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. Each of these 21 sections is further put into 98 chapters. The chapters are further put into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all of the forms because important paperwork that end up being filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for participants to track down a particular segment of products. The list presents the full product coding with variety of categories, simplifying the procedure of importers and exporters. You could access this code list over the world wide web with the online data the likes of Infodrive Sweden. Besides providing a detailed HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods it really is quite entering the product’s such as :.