Harmonized code or HS Code is actually inevitable aspect for the import export trade. It is a unique numerical code sent to various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. Around the globe used to describe particular goods in the import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from 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 includes 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 good ID assigned the particular trading product, which is simply by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, and also a number 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 chapters. The chapters are further split up into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms and also important paperwork that to be able to filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in example of the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, end up being have been very troublesome for participants to search for a particular segment of items. The list presents the sum of the product coding with amount of categories, simplifying the task of importers and exporters. You can potentially access this code list over the web with the internet data manufacturers like Infodrive Indian. Besides providing a complete HS tariff list, the company has also provided an interior search box for searching the codes of particular goods it really is quite entering the product’s bands.