Harmonized code or HS Code is an inevitable aspect for the Import Export Code Online Registration India export dealings. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Around the globe used to describe particular goods within 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 which has been developed at par with the international coding system to suit automobile of the international trading community of the country. The code is basically, a special ID assigned a new particular trading product, which is simply by more than 200 countries across the world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes regarding existing harmonized code list. The authority does periodical pursuits like commodity description, weeding beyond defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, along with that is a selection 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 divided into 98 sections. The chapters are further split into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to note the particular code number of his product in all the forms along with important paperwork that must be filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for the traders to track down a particular segment of items. The list presents the whole of the product coding with a lot of of categories, simplifying the duty of importers and exporters. You can easily access this code list over the internet with the online data brands like Infodrive Sweden. Besides providing an end HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods because of entering the product's names.