Harmonized code or HS Code a great inevitable aspect within the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from nation to another. Is used to describe particular goods regarding 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 operations. It is an eight digit code that has been developed at par with the international coding system to suit automobile of the international trading community of the country. The code is basically, a fashionable ID assigned to a particular trading product, which is used by more than 200 countries across entire world.
dgft IE Code Online Application Procedure India India in the governing authority that looks after the changes or formulation or addition of new codes the actual existing harmonized code place. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a range of such codes classified under 21 sections. 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 separated into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all the forms along with 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 carried out in example of the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, always be have been very troublesome for participants to track down a particular segment of items. The list presents the entire product coding with variety of of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the online world with the internet data businesses like Infodrive Sweden. Besides providing a complete HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods because of entering the product’s bands.