Harmonized code or HS Code can be an inevitable aspect of this import export make trades. It is a unique numerical code assigned to various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. Around the globe used to describe particular goods regarding 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 includes been developed at par with the international coding system to suit vehicle of the international trading community belonging to the country. The code is basically, a special ID assigned using a particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in existing harmonized code place. The authority does periodical activities like commodity description, weeding out of defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, and also a bunch 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. Every these 21 sections is further separated into 98 sections. The chapters are further put into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to bring up the particular code involving his product in all of the forms along with 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 the particular 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 substitute. If the HS tariff list was not available, it have been very troublesome for participants to track down a particular segment of items. The list presents the sum of the product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You could access this code list over the internet with the internet data brands like Infodrive Indian. Besides providing a complete HS tariff list, organization has also provided an interior search box for searching the codes of particular goods it really is quite entering the product’s companies.