Harmonized code or HS Code can be an inevitable aspect of this Import Export Code Application Online India export deal. 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 your past import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained your 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 provides 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 utilized by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, and also a bunch 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 put into 98 chapters. The chapters are further put into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms and other important paperwork that end up being filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the world wide web with the online data the likes of Infodrive Indian. Besides providing an end HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s names.