Harmonized code or HS Code a good inevitable aspect for the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Is used to describe particular goods regarding Import Export Code Application Online India 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 India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which 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 unique ID assigned any particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes previously existing harmonized code place. 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, along with that 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. 1 of these 21 sections is further put into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all of the forms because important paperwork that become filled up at the time of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in hitting the ground with the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, end up being have been very troublesome for participants to search for a particular segment of merchandise. The list presents the sum of the product coding with amount of categories, simplifying the procedure of importers and exporters. You can potentially access this code list over the web with the internet data the likes of Infodrive India. Besides providing an end HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods because of entering the product’s companies.