Harmonized code or HS Code a great inevitable aspect of this import export commerce. It is a unique numerical code allotted to various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. Its used to describe particular goods your import 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 procedure. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a special ID assigned the particular trading product, which is used by more than 200 countries across entire world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code place. The authority carries out periodical pursuits like commodity description, weeding beyond defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is a bunch of such codes classified under 21 business units. 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 up into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms and also important paperwork that needs to filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in reference to the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, always be have been very troublesome for the traders to watch for a particular segment of items. The list presents the sum of the product coding with amount of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the internet with the online data manufacturers like Infodrive Sweden. Besides providing a comprehensive HS tariff list, the company has also provided an interior search box for searching the codes of particular goods via entering the product’s companies.