Harmonized Code List an Integral Part of the Import and export Trade

Harmonized code or HS Code can be an inevitable aspect within the import export dealings. It is a unique numerical code used on various products and commodities required while shipping from nation 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 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 techniques. 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 of the country. The code is basically, a good ID assigned to a particular trading product, which is utilized by more than 200 countries across entire world.

DGFT India in the governing authority that covers 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 of recent codes, change of description of product etc. It maintains the harmonized code list, which is a selection 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. All of these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes many products are mentioned.

Every trader dealing in international market has to say the particular code connected with his product in all the forms because important paperwork that must be filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in experience with the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, might have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the sum of the product coding with variety of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the online world with the internet data the likes of Infodrive The indian subcontinent. Besides providing a complete HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods by way of entering the product’s such as :.