Harmonized Code List an Integral Part of the Import and export Trade
Harmonized code or HS Code a great inevitable aspect for the import export commerce. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. It is used to describe particular goods your 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 IE Code Online Application Procedure India 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 automobile of the international trading community belonging to the country. The code is basically, a fashionable ID assigned using a particular trading product, which is through more than 200 countries across society.
DGFT India in the governing authority that attends to 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 the latest codes, change of description of product etc. It maintains the harmonized code list, may a bunch of such codes classified under 21 business units. 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 broken into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code involving his product in all the forms as well important paperwork that needs to filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in hitting the ground with the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. 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 categories, simplifying a job of importers and exporters. You is likely to access this code list over the net with the internet data companies like Infodrive Sweden. Besides providing an end HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods it really is quite entering the product’s names.
