Harmonized code or HS Code a good inevitable aspect of the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. In order to 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 by the 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 action. It is an eight digit code which been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a special ID assigned any particular trading product, which is utilized by more than 200 countries across the world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, which is a selection 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 divided into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code connected with his product in all of the forms along with important paperwork that needs to filled up at period 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 with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of products. The list presents the full product coding with variety of of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the online world with the online data businesses like Infodrive Indian. Besides providing a comprehensive HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods by way of entering the product’s names.