Harmonized code or HS Code is actually inevitable aspect for the import export deal. 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 your past 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 procedure. It is an eight digit code that has been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a special ID assigned a new particular trading product, which is used by more than 200 countries across the world.
dgft IE Code Online Application Procedure India India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may a number 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 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 of the forms because important paperwork that to be able to filled up at time of import export. All the attached 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 ultimately papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, might have been very troublesome for participants to investigation for a particular segment of merchandise. The list presents the product coding with amount of categories, simplifying the duty of importers and exporters. You could access this code list over the internet with the internet data companies like Infodrive India. Besides providing an end HS tariff list, organization has also provided an internal search box for searching the codes of particular goods simply by entering the product’s bands.