Harmonized code or HS Code is an inevitable aspect within the import export make trades. It is a unique numerical code allotted to various products and commodities Documents required for Import Export Code Registration Online while shipping from one country 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 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 which been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a fashionable ID assigned to a particular trading product, which is used by more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority does periodical activities like commodity description, weeding the defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a selection 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 broken into 98 chapters. The chapters are further split up into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to say the particular code involving his product in all the forms and other important paperwork that end up being filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are finished in hitting the ground with 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 the traders to track down a particular segment of merchandise. The list presents the full product coding with amount of categories, simplifying the procedure of importers and exporters. You could access this code list over the world wide web with the internet data companies like Infodrive Of india. Besides providing a complete HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s bands.