Harmonized code or HS Code a great inevitable aspect of this import export make trades. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Around the globe 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 IE Code Registration Online India India. The international coding system has been adopted in India for export import action. 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 on the country. The code is basically, a rare 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 previously existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a selection 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 up into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all of the forms as well important paperwork that to be able to filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in experience of the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it have been very troublesome for the traders to watch for a particular segment of items. The list presents the product coding with a number of categories, simplifying a job of importers and exporters. You is likely to access this code list over the net with the online data businesses like Infodrive Sweden. Besides providing an end HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods because of entering the product’s names.