Harmonized code or HS Code is actually inevitable aspect of the import export deal. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Is 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 from your Director General of Foreign Trade or dgft IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import procedure. It is an eight digit code provides been developed at par with the international coding system to suit automobile of the international trading community of the country. The code is basically, a unique ID assigned the particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code place. The authority does periodical activities like commodity description, weeding the defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a range of such codes classified under 21 business units. 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 this agreement particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all the forms as well important paperwork that to be able to filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience with the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of merchandise. The list presents the product coding with variety of of categories, simplifying the procedure of importers and exporters. You could access this code list over the online world with the internet data brands like Infodrive Sweden. Besides providing additional HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods simply by entering the product’s names.