Harmonized Code List an Integral Part of the Import export Trade
Harmonized code or HS Code a great inevitable aspect for the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Its used to describe particular goods your 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 been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a unique ID assigned any particular trading product, which is utilized by more than 200 countries across earth.
dgft IE Code Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code place. The authority performs periodical activities like commodity description, weeding the actual defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, and also 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. Every these 21 sections is further broken into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all the forms along with important paperwork that end up being filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are finished in example of the code mentioned ultimately 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 the traders to watch for a particular segment of items. The list presents the product coding with a lot of of categories, simplifying the task of importers and exporters. You is likely to access this code list over the net with the internet data businesses like Infodrive Of india. Besides providing additional HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods via entering the product’s names.
