Harmonized code or HS Code is actually inevitable aspect of this import export deal. It is a unique numerical code assigned to various products and commodities Documents required for Import Export Code Registration Online while shipping from one country to another. It is used to describe particular goods in the 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 function. It is an eight digit code that has 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 special ID assigned to a particular trading product, which is utilized by more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes regarding existing harmonized code list. The authority performs periodical activities like commodity description, weeding the defunct codes, addition of recent codes, change of product description 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. Both these 21 sections is further separated into 98 chapters. The chapters are further divided into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all of the forms along with important paperwork that become filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are carried out in experience of the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of products. The list presents the sum of the product coding with variety of of categories, simplifying a job of importers and exporters. You is likely to access this code list over the web with the online data businesses like Infodrive Of india. Besides providing additional HS tariff list, the corporation has also provided an interior search box for searching the codes of particular goods by way of entering the product’s names.