Harmonized code or HS Code a good inevitable aspect of the import export dealings. It is a unique numerical code sent to various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. It is used to describe particular goods regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from 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 which includes been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a rare ID assigned the particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code list. The authority does periodical activities like commodity description, weeding out of defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a number of such codes classified under 21 sections. 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 broken into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all the forms along with important paperwork that needs to filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed 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, it would have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the whole of the product coding with a number of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the net with the online data manufacturers like Infodrive Of india. Besides providing a comprehensive HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods simply by entering the product’s makers.