Harmonized Code List an Integral Part of the Export import Trade
Harmonized code or HS Code is actually inevitable aspect within the import export trade. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Its used to describe particular goods your 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 Export Code Application Online India function. It is an eight digit code provides 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 rare ID assigned any particular trading product, which is by simply more than 200 countries across society.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in existing harmonized code list of reasons. The authority carries out periodical pursuits like commodity description, weeding the actual 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 pieces. 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 divided into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all the forms along with important paperwork that become filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in hitting the ground with the code mentioned in the papers. Hence one know 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 the traders to track down a particular segment of items. The list presents the whole of the product coding with amount of categories, simplifying the task of importers and exporters. You could access this code list over the net with the online data brands like Infodrive Of india. Besides providing an end HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods by way of entering the product’s bands.
