Harmonized code or HS Code can be an inevitable aspect within the import export deal. It is a unique numerical code used on various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. Its used to describe particular goods your past 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 techniques. It is an eight digit code which includes been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a special ID assigned to a particular trading product, which is simply by 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 the existing harmonized code place. The authority does periodical activities like commodity description, weeding the particular defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, and also a collection 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 split up into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms along with important paperwork that needs to filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in experience of the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of products. The list presents the whole of the product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the online world with the online data brands like Infodrive Indian. Besides providing an end HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s such as :.