Harmonized code or HS Code can be an inevitable aspect of this import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. It is used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized IEC Code Online Application India 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 provides 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 fashionable ID assigned any particular trading product, which is by simply more than 200 countries across entire world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in existing harmonized code listing. The authority performs periodical activities like commodity description, weeding the actual defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, may a bunch 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. Every these 21 sections is further split up into 98 chapters. The chapters are further split into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all the forms along with important paperwork that become filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are finished in hitting the ground with the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for participants to search for a particular segment of products. The list presents the full product coding with amount of categories, simplifying the duty of importers and exporters. You could access this code list over the world wide web with the online data the likes of Infodrive Sweden. Besides providing a complete HS tariff list, vehicle has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s makers.