Harmonized code or HS Code a great inevitable aspect for the import 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 through 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 vehicle of the international trading community of the country. The code is basically, a rare ID assigned to a particular trading product, which is through more than 200 countries across entire world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code listing. The authority does periodical activities like commodity description, weeding the particular defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, and also a range 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. Every these 21 sections is further broken into 98 sections. The chapters are further separated into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all the forms along with important paperwork that must be filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in hitting the ground with the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of items. The list presents the full product coding with a number of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the world wide web with the Apply IEC Online India data the likes of Infodrive Indian. Besides providing additional HS tariff list, the company has also provided an interior search box for searching the codes of particular goods by way of entering the product's such as :.