Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code a good inevitable aspect of this import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. It is used to describe particular goods regarding 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 Export Code Online Registration India techniques. It is an eight digit code that has been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a unique ID assigned a new particular trading product, which is by simply more than 200 countries across earth.

DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition most 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. All of these 21 sections is further divided into 98 chapters. The chapters are further separated into sub-headings under which particular HS Codes many products are mentioned.

Every trader dealing in international market has to note the particular code regarding his product in all of the forms and also important paperwork that needs to filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in example of the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for participants to investigation for a particular segment of products. The list presents the product coding with variety of of categories, simplifying the task of importers and exporters. You could access this code list over the net with the internet data the likes of Infodrive The indian subcontinent. Besides providing an end HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s such as :.