Uncategorized

Harmonized Code List an Integral Part of the Import and export Trade

Harmonized code or HS Code a great inevitable aspect of the import export deal. It is a unique numerical code allotted to various products and commodities required while shipping from nation 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 IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import operations. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a rare ID assigned a new particular trading product, which is used by more than 200 countries across society.

DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, along with that is a bunch of such codes classified under 21 sections. 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 divided into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes to target different products are mentioned.

Every trader dealing in international market has to say the particular code involving his product in all the forms and other important paperwork that needs to filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in reference to the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the full product coding with a lot of of categories, simplifying the procedure of importers and exporters. You could access this code list over the internet with the internet data businesses like Infodrive The indian subcontinent. Besides providing a complete HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s such as :.