Harmonized code or HS Code is an inevitable aspect in the import export deal. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. In order to used to describe particular goods your past import export trading platform.
The ITC HS Code List or India harmonized IEC Code Online Application India list is regulated and maintained by the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code that has been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a rare ID assigned a new particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority carries out periodical pursuits like commodity description, weeding the particular defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, which is a selection of such codes classified under 21 sectors. 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 broken into 98 sections. The chapters are further separated into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all of the forms along with important paperwork that to be able to filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, always be have been very troublesome for participants to watch for a particular segment of items. The list presents the sum of the product coding with amount of categories, simplifying the task of importers and exporters. You could access this code list over the net with the internet data the likes of Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods via entering the product’s makers.