Harmonized Code List an Integral Part of the Import and export Trade
Harmonized code or HS Code is an inevitable aspect within the import export commerce. It is a unique numerical code used on various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. It is used to describe particular goods your 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 which has been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a rare ID assigned any particular trading product, which is by simply more than 200 countries across entire world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding the actual defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, which is 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 chapters. The chapters are further separated into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all the forms as well important paperwork that become filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in hitting the ground with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, end up being have been very troublesome for participants to investigation for a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying the procedure of importers and exporters. You can potentially access this code list over the web with the internet data brands like Infodrive India. Besides providing an end HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.
