Harmonized code or HS Code can be an inevitable aspect of this import export deal. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Is used to describe particular goods your past import 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 the requirements of the international trading community from the country. The code is basically, a special ID assigned a new particular trading product, which is utilized by more than 200 countries across earth.
dgft IE Code Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes previously existing harmonized code place. The authority carries out periodical activities like commodity description, weeding out of defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may a collection of such codes classified under 21 pieces. 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 put into 98 chapters. The chapters are further separated into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code associated with his product in all of the forms and also important paperwork that become filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in experience with the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of products. The list presents the entire product coding with a number of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the online world with the online data businesses like Infodrive Sweden. Besides providing an end HS tariff list, organization has also provided an internal search box for searching the codes of particular goods by way of entering the product’s companies.