Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code a great inevitable aspect for the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Around the globe 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 IEC Registration Online 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 of the country. The code is basically, a unique ID assigned any particular trading product, which is used by more than 200 countries across the world.

DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, may a bunch 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 broken into 98 sections. The chapters are further put into sub-headings this agreement particular HS Codes to target different products are mentioned.

Every trader dealing in international market has to mention the particular code associated with his product in all of the forms and other important paperwork that become filled up at the 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 hitting the ground with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for participants to investigation for a particular segment of merchandise. The list presents the entire product coding with amount of categories, simplifying the duty of importers and exporters. You can easily access this code list over the internet with the internet data businesses like Infodrive India. Besides providing a comprehensive HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s bands.