Harmonized Code List an Integral Part of the Import and export 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 one country to another. Its used to describe particular goods in the 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 action. It is an eight digit code which includes been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a unique ID assigned the particular trading product, which is by simply more than 200 countries across earth.

DGFT India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, which is a collection 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 broken into 98 chapters. The chapters are further split into sub-headings to which particular HS Codes for different products are mentioned.

Every trader dealing in international market has to say the particular code involving his product in all the forms and other important paperwork that become filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in reference to the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of products. The list presents the product coding with variety of of categories, simplifying a job of importers and exporters. You is likely to access this code list over the online world with the internet data manufacturers like Infodrive Sweden. Besides providing additional HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods because of entering the product’s such as :.

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