Harmonized code or HS Code is an inevitable aspect of the import export make trades. It is a unique numerical code sent to various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. It is used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code that has been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a fashionable ID assigned any 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 in the existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding beyond defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, may a selection 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 split up into 98 chapters. The chapters are further put into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all the forms and other important paperwork that must be filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in reference to the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for participants to search for a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the internet with the internet data companies like Infodrive Sweden. Besides providing a comprehensive HS tariff list, vehicle has also provided an internal search box for searching the codes of particular goods via entering the product’s such as :.