Harmonized code or HS Code is an inevitable aspect of the import export make trades. It is a unique numerical code allotted to 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 from your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export Import Export Code Application Online India function. It is an eight digit code which has been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a special ID assigned to a particular trading product, which is utilized by more than 200 countries across entire world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a number of such codes classified under 21 pieces. 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. 1 of these 21 sections is further put into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code associated with his product in all the forms because important paperwork that needs to filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in reference to the code mentioned in the papers. Hence one can say 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 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 internet with the internet data manufacturers like Infodrive The indian subcontinent. Besides providing a detailed HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods via entering the product’s such as :.