Harmonized code or HS Code is actually inevitable aspect of the import export make trades. It is a unique numerical code used on various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. Its used to describe particular goods regarding 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 techniques. It is an eight digit code provides been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a good ID assigned to a particular trading product, which is by simply more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, may a bunch of such codes classified under 21 sections. 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 separated into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all the forms and other important paperwork that end up being filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in example of the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, end up being have been very troublesome for participants to search 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 in many cases can access this code list over the net with the online data brands like Infodrive Of india. Besides providing an end HS tariff list, the company has also provided an inside search box for searching the codes of particular goods simply by entering the product’s such as :.