Harmonized code or HS Code is actually inevitable aspect of the import export dealings. It is a unique numerical code assigned to various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. In order to used to describe particular goods your past import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through 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 provides been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a special ID assigned a new particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code place. The authority performs 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, may a bunch of such codes classified under 21 sections. 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 separated into 98 sections. The chapters are further separated into sub-headings under 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 and other important paperwork that become filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in hitting the ground with the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of merchandise. The list presents the full product coding with amount of categories, simplifying a job of importers and exporters. You is likely to access this code list over the web with the online data brands like Infodrive India. Besides providing additional HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods simply by entering the product’s such as :.