Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code is actually inevitable aspect for the import export dealings. 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 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 Export Code Application Online India function. It is an eight digit code which been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a fashionable ID assigned the particular trading product, which is used by more than 200 countries across the world.

DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code place. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, may a number 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. 1 of these 21 sections is further divided into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes to target other products are mentioned.

Every trader dealing in international market has to say the particular code associated with his product in all of the forms and other important paperwork that needs to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in reference to the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of merchandise. The list presents the whole of the product coding with a lot of of categories, simplifying the duty of importers and exporters. You could access this code list over the net with the online data companies like Infodrive The indian subcontinent. Besides providing a complete HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods simply by entering the product’s companies.