Harmonized code or HS Code is an inevitable aspect within the import export trade. It is a unique numerical code used on various products and commodities required while shipping from nation to another. It is used to describe particular goods your past import export trading platform.
The ITC HS IEC Code Online Application India 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 been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a good ID assigned using a particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code listing. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition of new 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. Each of these 21 sections is further broken into 98 sections. The chapters are further separated into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all the forms because important paperwork that must be filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in experience of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of products. The list presents the whole of the product coding with amount of categories, simplifying a job of importers and exporters. You can easily access this code list over the world wide web with the internet data businesses like Infodrive India. Besides providing a comprehensive HS tariff list, organization has also provided an interior search box for searching the codes of particular goods because of entering the product’s companies.