Harmonized code or HS Code a good inevitable aspect of this import export commerce. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Is used to describe particular goods your past 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 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 good ID assigned any particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, which is 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. All of these 21 sections is further separated into 98 sections. The chapters are further separated into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all of the forms as well important paperwork that to be able to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in experience of the code mentioned in the papers. Hence one can tell 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 participants to watch for a particular segment of items. The list presents the whole of the product coding with variety of of categories, simplifying the duty of importers and exporters. You is likely to access this IEC Code Online Application India list over the internet with the internet data companies like Infodrive Indian. Besides providing a detailed HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods by way of entering the product’s such as :.