Harmonized code or HS Code can be an inevitable aspect for the import export make trades. It is a unique numerical code allotted to various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. Is used to describe particular goods within the 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 action. It is an eight digit code that has been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a fashionable ID assigned the particular trading product, which is used 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 the actual existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the actual defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a bunch of such codes classified under 21 business units. 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 split into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all the forms as well important paperwork that to be able to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are performed in example of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for participants to investigation for a particular segment of items. The list presents the sum of the product coding with variety of of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the web with the online data manufacturers like Infodrive Sweden. Besides providing additional HS tariff list, the company has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s companies.