Harmonized code or HS Code is actually inevitable aspect for the import export dealings. It is a unique numerical code assigned to various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. It is used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through 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 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 special ID assigned to a particular trading product, which is by simply more than 200 countries across earth.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code place. The authority does periodical pursuits like commodity description, weeding the defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, and also a range 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 separated into 98 sections. The chapters are further split up into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all the forms and other important paperwork that end up being filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the full product coding with amount of categories, simplifying the procedure of importers and exporters. You is likely to access this code list over the online world with the internet data brands like Infodrive Indian. Besides providing an end HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s makers.