Harmonized code or HS Code is actually inevitable aspect within the import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. It is 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 from your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import function. It is an eight digit code provides been developed at par with the international coding system to suit vehicle 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 planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding beyond defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, may a selection of such codes classified under 21 sectors. 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 sections. The chapters are further split up 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 connected with his product in all of the forms because important paperwork that become 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 executed in experience with the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of items. The list presents the whole of the product coding with a number of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the web with the online data brands like Infodrive Sweden. Besides providing a complete HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods by way of entering the product’s names.