Harmonized code or HS Code is an inevitable aspect in the Import Export Code Application Online India export trade. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Around the globe 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 techniques. It is an eight digit code which includes been developed at par with the international coding system to suit automobile of the international trading community for the country. The code is basically, a rare ID assigned the particular trading product, which is used by more than 200 countries across the world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority carries out periodical pursuits like commodity description, weeding the defunct codes, addition of the latest 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. Both these 21 sections is further divided into 98 sections. The chapters are further put into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms because important paperwork that must be filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in hitting the ground with the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign return. 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 entire product coding with a number of categories, simplifying your responsibilities of importers and exporters. You could access this code list over the web with the internet data brands like Infodrive The indian subcontinent. Besides providing a detailed HS tariff list, the corporation has also provided an interior search box for searching the codes of particular goods by way of entering the product’s names.