Harmonized code or HS Code can be an inevitable aspect within the import export commerce. It is a unique numerical code assigned to various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. In order to used to describe particular goods within the 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 has been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a special ID assigned any particular trading product, which is used by more than 200 countries across earth.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code listing. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, which 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. All of these 21 sections is further broken into 98 sections. The chapters are further split into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all of the forms along with important paperwork that needs to filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in experience of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, end up being have been very troublesome for participants to track down a particular segment of items. The list presents the entire product coding with a number of categories, simplifying the task of importers and exporters. You can potentially access this code list over the world wide web with the internet data companies like Infodrive India. Besides providing a comprehensive HS tariff list, organization has also provided an internal search box for searching the codes of particular goods simply by entering the product’s companies.