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

Harmonized code or HS Code a good inevitable aspect in the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. In order to 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 procedure. It is an eight digit code which includes been developed at par with the international coding system to suit automobile of the international trading community for the country. The code is basically, a fashionable ID assigned using a particular trading product, which is by simply more than 200 countries across the planet.

dgft IE Code Online Application Procedure India India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding the defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a number 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. All of these 21 sections is further broken into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes for different products are mentioned.

Every trader dealing in international market has to say the particular code regarding his product in all the forms and also important paperwork that must be filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are finished in experience of the code mentioned ultimately papers. Hence one can say 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 investigation for a particular segment of products. The list presents the product coding with a lot of of categories, simplifying the task of importers and exporters. You could access this code list over the web with the internet data brands like Infodrive Of india. Besides providing a complete HS tariff list, organization has also provided an inside search box for searching the codes of particular goods by way of entering the product’s makers.