Harmonized code or HS Code is an inevitable aspect of the import export deal. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Around the globe 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 India. The international coding system has been adopted in India for export import action. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a unique ID assigned any particular trading product, which is used by more than 200 countries across society.
dgft IE Code Online Application Procedure India India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code list. The authority carries out periodical activities like commodity description, weeding out of defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a collection 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 separated into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all of the forms because important paperwork that to be able to filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are finished in example of the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it would have been very troublesome for the traders to watch for a particular segment of products. The list presents the sum of the product coding with amount of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the internet with the online data companies like Infodrive Sweden. Besides providing a complete HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods via entering the product’s names.