Harmonized code or HS Code a good inevitable aspect within the import export dealings. It is a unique numerical code assigned to various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. Its used to describe particular goods within the 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 provides been developed at par with the international coding system to suit automobile of the international trading community of the country. The code is basically, a special ID assigned the particular trading product, which is by simply more than 200 countries across society.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code place. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a range 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. Every these 21 sections is further divided into 98 chapters. The chapters are further separated into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all of the forms and other important paperwork that end up being filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in experience with the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for the traders to investigation for a particular segment of products. The list presents the product coding with variety of of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the web with the online data the likes of Infodrive Of india. Besides providing additional HS tariff list, the company has also provided an interior search box for searching the codes of particular goods simply by entering the product’s bands.