Harmonized code or HS Code is an inevitable aspect of the Import Export Code Online Registration India export trade. 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 Code List or India harmonized code list is regulated and maintained from 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 which has been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a rare ID assigned using a particular trading product, which is utilized by more than 200 countries across the planet.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding the particular defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a selection 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. 1 of these 21 sections is further split up 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 mention 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 attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in example of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for participants to watch for a particular segment of items. The list presents the full product coding with a number of categories, simplifying the task of importers and exporters. You is likely to access this code list over the world wide web with the online data companies like Infodrive Sweden. Besides providing an end HS tariff list, the company has also provided an inside search box for searching the codes of particular goods simply by entering the product’s bands.