Harmonized code or HS Code is an inevitable aspect of the import export make trades.
It is a unique numerical code assigned to various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. Is 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 by 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 unique ID assigned to a particular trading product, which is utilized by more than 200 countries across the planet.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of the latest codes, change of description of product 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.
All of these 21 sections is further divided into 98 chapters. The chapters are further put into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code regarding his product in all the forms as well important paperwork that become filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in experience of the code mentioned in the papers.
Hence one can tell that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, end up being have been very troublesome for the traders to track down a particular segment of products. The list presents the entire product coding with variety of of categories, simplifying a job of importers and exporters.
You can easily access this code list over the world wide web with the internet data brands like Infodrive Of india. Besides providing additional HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods by way of entering the product’s companies.