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

Harmonized code or HS Code a great inevitable aspect within the import export deal. It is a unique numerical code allotted to various products and commodities Documents required for Import Export Code Registration Online while shipping from one country to another. In order to used to describe particular goods your import export trading platform.

The ITC HS Code List or India harmonized code list is regulated and maintained from your 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 the requirements of the international trading community from the country. The code is basically, a unique ID assigned using a particular trading product, which is simply by more than 200 countries across the world.

DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, and also 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 put into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes to target different products are mentioned.

Every trader dealing in international market has to mention the particular code regarding his product in all the forms and also important paperwork that to be able to filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in example of 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 participants to investigation for a particular segment of items. The list presents the entire product coding with a lot of of categories, simplifying your responsibilities 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 India. Besides providing an end HS tariff list, organization has also provided an internal search box for searching the codes of particular goods it really is quite entering the product’s makers.