Harmonized code or HS Code is an inevitable aspect within the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Around the globe used to describe particular goods regarding Import Export Code Application Online India 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 India. The international coding system has been adopted in India for export import procedure. It is an eight digit code that has been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a good ID assigned using a particular trading product, which is used by more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, along with that 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. Both these 21 sections is further split up into 98 sections. The chapters are further put into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code involving his product in all of the forms and other important paperwork that must be filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, always be have been very troublesome for the traders to investigation for a particular segment of products. The list presents the entire product coding with a number of categories, simplifying the procedure of importers and exporters. You is likely to access this code list over the online world with the online data brands like Infodrive India. Besides providing a comprehensive HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product’s makers.