Harmonized Code List an Integral Part of the Export import Trade

Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code can be an inevitable aspect of this import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Its used to describe particular goods your import export trading platform.

The ITC HS Code List or India harmonized code list is regulated and maintained from the 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 which been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a special ID assigned using a particular trading product, which is by simply more than 200 countries across entire world.

dgft IEC Registration Online India India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, may a collection of such codes classified under 21 sectors. 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. 1 of these 21 sections is further broken into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes many products are mentioned.

Every trader dealing in international market has to say the particular code number of his product in all the forms and also important paperwork that end up being filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are finished in example of the code mentioned inside the papers. Hence one can tell 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 watch for a particular segment of items. The list presents the whole of the product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You in many cases can access this code list over the web with the internet data the likes of Infodrive Of india. Besides providing a complete HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods via entering the product’s makers.