Harmonized code or HS Code a good inevitable aspect of the import export trade. 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 by the 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 the requirements of the international trading community from the country. The code is basically, a fashionable ID assigned using a particular trading product, which is used by more than 200 countries across the world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, which is a collection of such codes classified under 21 sections. 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 put into 98 chapters. The chapters are further separated into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all of the forms along with important paperwork that become filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are performed in hitting the ground with the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it would have been very troublesome for the traders to track down a particular segment of merchandise. The list presents the whole of the product coding with a number of categories, simplifying a job of importers and exporters. You is likely to access this code list over the net with the internet data companies like Infodrive Of india. Besides providing additional HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods by way of entering the product’s such as :.