Harmonized code or HS Code is an inevitable aspect of the import export dealings. It is a unique numerical code used on various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. Is used to describe particular goods within the 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 India. The international coding system has been adopted in India for export import procedure. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a unique ID assigned a new particular trading product, which is by simply more than 200 countries across the planet.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, which is a range 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. 1 of these 21 sections is further divided into 98 sections. The chapters are further put into sub-headings to which particular HS Codes for different 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 the time of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in reference to the code mentioned in 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 merchandise. The list presents the sum of the product coding with variety of of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the world wide web with the internet data the likes of Infodrive India. Besides providing an end HS tariff list, the company has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s companies.