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

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

Harmonized code or HS Code is actually inevitable aspect for the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Around the globe 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 function. It is an eight digit code provides been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a unique ID assigned the particular trading product, which is by simply more than 200 countries across the world.

dgft IE Code Registration Online India India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code listing. 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, and also a range of such codes classified under 21 sectors. 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 sections. The chapters are further separated into sub-headings under which particular HS Codes for different products are mentioned.

Every trader dealing in international market has to mention the particular code involving his product in all the forms as well important paperwork that must be filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in reference to the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it would have been very troublesome for the traders to investigation for a particular segment of products. The list presents the full product coding with a number of categories, simplifying the task of importers and exporters. You is likely to access this code list over the world wide web with the internet data the likes of Infodrive Of india. Besides providing a comprehensive HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods it really is quite entering the product’s makers.