Harmonized code or HS Code can be an inevitable aspect within the import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Its 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 through Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import techniques. 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 rare ID assigned to a particular trading product, which is simply by more than 200 countries across earth.
dgft IE Code Online Application Procedure India India in the governing authority that provides the changes or formulation or addition of new codes in existing harmonized code listing. The authority performs periodical activities like commodity description, weeding the defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a collection of such codes classified under 21 sectors. 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 put into 98 chapters. The chapters are further divided into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all of the forms because important paperwork that needs to filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in hitting the ground with the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of items. The list presents the whole of the product coding with amount of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the net with the online data businesses like Infodrive The indian subcontinent. Besides providing an end HS tariff list, the company has also provided an internal search box for searching the codes of particular goods via entering the product’s such as :.