Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code is an inevitable aspect in the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from nation to another. Is used to describe particular goods regarding import export trading platform.

The ITC HS Code List or India harmonized code list is regulated and maintained from the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which includes 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 unique ID assigned using a particular trading product, which is used by more than 200 countries across earth.

dgft IEC Registration Online India India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code list. The authority does periodical pursuits like commodity description, weeding beyond defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is a range 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. Every these 21 sections is further broken into 98 sections. The chapters are further split up into sub-headings this agreement particular HS Codes many products are mentioned.

Every trader dealing in international market has to bring up the particular code associated with his product in all the forms as well important paperwork that needs to filled up at the time of import and export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in experience of the code mentioned ultimately 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 participants to watch for a particular segment of items. The list presents the whole of the product coding with a lot of of categories, simplifying a job of importers and exporters. You could access this code list over the internet with the online data companies like Infodrive The indian subcontinent. Besides providing additional HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods it really is quite entering the product’s names.