Harmonized code or HS Code is actually inevitable aspect of the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. In order to 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 by the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which has been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a rare ID assigned any particular trading product, which is used by more than 200 countries across entire world.
dgft IE Code Online Application Procedure India India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code place. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, which is a number of such codes classified under 21 parts. 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. Each of these 21 sections is further put into 98 sections. The chapters are further separated 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 number of his product in all of the forms and other important paperwork that end up being filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in reference to the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for participants to watch for a particular segment of items. The list presents the entire product coding with variety of categories, simplifying the procedure of importers and exporters. You could access this code list over the internet with the internet data companies like Infodrive The indian subcontinent. Besides providing additional HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods via entering the product’s bands.