Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code a great inevitable aspect in the Import Export Code Application Online India export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from one country 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 by 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 has been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a special ID assigned a new particular trading product, which is used by more than 200 countries across society.

DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code list. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, may 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. All of these 21 sections is further divided into 98 chapters. The chapters are further put into sub-headings this agreement particular HS Codes many products are mentioned.

Every trader dealing in international market has to mention the particular code number of his product in all of the forms as well important paperwork that end up being filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with a number of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the web with the internet data companies like Infodrive India. Besides providing a complete HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods because of entering the product’s companies.