Harmonized code or HS Code can be an inevitable aspect of this import export make trades. It is a unique numerical code assigned 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 function. It is an eight digit code which has been developed at par with the international coding system to suit vehicle of the international trading community of the country. The code is basically, a good ID assigned the particular trading product, which is used by more than 200 countries across society.
dgft IE Code Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a bunch 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. Both these 21 sections is further divided into 98 chapters. The chapters are further divided into sub-headings this agreement 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 as well important paperwork that become filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in example of the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the entire product coding with variety of categories, simplifying a job of importers and exporters. You can easily access this code list over the web with the internet data companies like Infodrive Sweden. Besides providing an end 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 such as :.