Harmonized code or HS Code is actually inevitable aspect of this Import Export Code Application Online India export make trades. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. It is used to describe particular goods in the import 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 action. It is an eight digit code that has been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a fashionable ID assigned any particular trading product, which is through more than 200 countries across the world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority does periodical activities like commodity description, weeding beyond defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, along with that is 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. Each of these 21 sections is further separated into 98 sections. The chapters are further split into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all of the forms because important paperwork that must be filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in example of the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for the traders to watch for a particular segment of merchandise. The list presents the sum of the product coding with a number of categories, simplifying a job of importers and exporters. You is likely to access this code list over the net with the internet data manufacturers like Infodrive Of india. Besides providing additional HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s companies.