Harmonized code or HS Code a great inevitable aspect of this import export deal. It is a unique numerical code sent to 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 provides been developed at par with the international coding system to suit vehicle of the international trading community of the country. The code is basically, a unique ID assigned any particular trading product, which is by simply more than 200 countries across society.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code listing. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, and also a bunch 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 to target different products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all of the forms along with 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 particular exemption of commodities, are finished in example of the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for participants to track down a particular segment of merchandise. The list presents the sum of the product coding with variety of categories, simplifying the duty of importers and exporters. You could access this code list over the internet with the internet data companies like Infodrive Indian. Besides providing additional HS tariff list, the corporate has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s such as :.