Harmonized code or HS Code can be an inevitable aspect in the import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Around the globe used to describe particular goods regarding 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 IEC Registration Online India 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 the requirements of the international trading community from the country. The code is basically, a unique ID assigned the particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding the particular defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, along with that is a selection 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. 1 of these 21 sections is further broken into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all the forms as well important paperwork that needs to filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in experience of the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with variety of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the net with the online data companies like Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods via entering the product’s makers.