Harmonized code or HS Code a good inevitable aspect within the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. It is used to describe particular goods your Import Export Code Application Online India 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 action. 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 fashionable ID assigned using a particular trading product, which is through more than 200 countries across the world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority carries out 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, which is a collection 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. Both these 21 sections is further broken into 98 sections. The chapters are further split into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all the forms along with important paperwork that must be filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in experience with the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the sum of the product coding with a number of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the world wide web with the internet data the likes of Infodrive Sweden. Besides providing a comprehensive HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods because of entering the product’s names.