Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code can be an inevitable aspect in the import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Is used to describe particular goods in the Import Export Code Online Registration India 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 techniques. It is an eight digit code provides been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a good ID assigned a new particular trading product, which is used by more than 200 countries across entire world.

DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code list. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, which is 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 put into 98 chapters. The chapters are further put into sub-headings to which particular HS Codes to target different products are mentioned.

Every trader dealing in international market has to say the particular code regarding his product in all the forms and other important paperwork that become filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are performed in hitting the ground with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for the traders to investigation for a particular segment of products. The list presents the entire product coding with a number of categories, simplifying the task of importers and exporters. You in many cases can access this code list over the net with the internet data the likes of Infodrive India. Besides providing additional HS tariff list, the corporation has also provided an internal search box for searching the codes of particular goods by way of entering the product’s bands.