Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code a good inevitable aspect of the import export dealings. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. It is 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 the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import function. It is an eight digit code which 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 rare ID assigned using a particular trading product, which is through more than 200 countries across entire world.

DGFT India in the governing authority that covers the changes or formulation or addition of new codes in existing harmonized code listing. The authority does periodical pursuits like commodity description, weeding out of defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, along with that is a bunch of such codes classified under 21 parts. 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. Each of these 21 sections is further divided into 98 chapters. The chapters are further put 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 to be able to filled up at time of Import Export Code Application Online India export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in hitting the ground with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, always be have been very troublesome for the traders to investigation for a particular segment of products. The list presents the entire product coding with a number of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the online world with the internet data manufacturers like Infodrive Of india. Besides providing an end HS tariff list, organization has also provided an interior search box for searching the codes of particular goods because of entering the product’s names.