Harmonized code or HS Code a good inevitable aspect for the import export make trades. It is a unique numerical code sent to various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. It is used to describe particular goods your 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 operations. It is an eight digit code which includes 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 fashionable ID assigned the particular trading product, which is used by more than 200 countries across entire world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, and also a selection 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 divided into 98 chapters. The chapters are further split up into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all of the forms and also important paperwork that become filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in hitting the ground with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, end up being have been very troublesome for participants to search for a particular segment of merchandise. The list presents the entire product coding with a number of categories, simplifying the duty of importers and exporters. You could access this code list over the online world with the online data manufacturers like Infodrive Indian. Besides providing additional HS tariff list, organization has also provided an internal search box for searching the codes of particular goods by way of entering the product’s such as :.