Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code can be an inevitable aspect in the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Its 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 your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import techniques. It is an eight digit code provides 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 good ID assigned using a particular trading product, which is through more than 200 countries across entire world.

dgft IEC Registration Online India India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of new 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. Both these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings under which particular HS Codes for different products are mentioned.

Every trader dealing in international market has post the particular code associated with his product in all of the forms and other important paperwork that to be able to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in hitting the ground with the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it would have been very troublesome for participants to investigation for a particular segment of products. The list presents the whole of the product coding with amount of categories, simplifying the task of importers and exporters. You can potentially access this code list over the world wide web with the internet data businesses like Infodrive Of india. Besides providing a detailed HS tariff list, the corporate has also provided an interior search box for searching the codes of particular goods by way of entering the product’s bands.