Harmonized code or HS Code a good inevitable aspect of the import export dealings. It is a unique numerical IEC Code Online Application India used on various products and commodities required while shipping from nation to another. Around the globe 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 procedure. It is an eight digit code provides been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a good ID assigned any particular trading product, which is used by more than 200 countries across the world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes previously existing harmonized code place. The authority carries out periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may a bunch 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. All of these 21 sections is further separated into 98 sections. The chapters are further split into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code connected with his product in all the forms along with important paperwork that must be filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in experience of the code mentioned inside the papers. Hence one know 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 track down a particular segment of items. The list presents the full product coding with variety of of categories, simplifying the task of importers and exporters. You can potentially access this code list over the web with the online data the likes of Infodrive The indian subcontinent. Besides providing additional HS tariff list, the company has also provided an interior search box for searching the codes of particular goods via entering the product’s bands.