Harmonized code or HS Code is an inevitable aspect within the import export dealings. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Around the globe 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 your 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 automobile of the international trading community for the country. The code is basically, a special ID assigned a new particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code listing. The authority does periodical activities like commodity description, weeding the actual defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a bunch 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 separated into 98 chapters. The chapters are further divided into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all the forms as well important paperwork that become filled up at period of export Import Export Code Application Online India. 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 ultimately 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 track down a particular segment of products. The list presents the entire product coding with variety of of categories, simplifying a job of importers and exporters. You can easily access this code list over the web with the online data companies like Infodrive The indian subcontinent. Besides providing additional HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods by way of entering the product’s names.