Harmonized code or HS Code is an inevitable aspect of the Import Export Code Online Registration India export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Its used to describe particular goods in 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 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 fashionable ID assigned to a particular trading product, which is simply by more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code list. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, along with that is a selection of such codes classified under 21 parts. 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 separated into 98 sections. The chapters are further put into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code associated with his product in all of the forms because important paperwork that needs to filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in experience of the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of items. The list presents the sum of the product coding with variety of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the internet with the online data companies like Infodrive India. Besides providing additional HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s companies.