Harmonized code or HS Code is actually inevitable aspect for the Import Export Code Online Registration India export dealings. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. In order to 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 through 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 which 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 unique ID assigned the particular trading product, which is by simply more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is a range 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 divided into 98 sections. The chapters are further separated 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 involving his product in all the forms and other important paperwork that needs to filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in reference to the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, always be have been very troublesome for the traders to track down a particular segment of items. The list presents the entire product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You could access this code list over the world wide web with the internet data manufacturers like Infodrive Sweden. Besides providing a complete HS tariff list, vehicle has also provided an internal search box for searching the codes of particular goods simply by entering the product’s makers.