Harmonized Code List an Integral Part of the Import export Trade

Harmonized code or HS Code can be an inevitable aspect within the import export make trades. It is a unique numerical code allotted to various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. Its used to describe particular goods regarding 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 function. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a rare ID assigned using a particular trading product, which is utilized by more than 200 countries across the planet.

DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list of reasons. The authority does 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, along with that is a selection 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. 1 of these 21 sections is further divided into 98 sections. The chapters are further put into sub-headings under which particular HS Codes to target different products are mentioned.

Every trader dealing in international market has to say the particular code number of his product in all the forms and also important paperwork that to be able to filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in hitting the ground with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of items. The list presents the sum of the product coding with a number of categories, simplifying the duty of importers and exporters. You is likely to access this code list over the internet with the internet data companies like Infodrive Sweden. Besides providing additional HS tariff list, the company has also provided an internal search box for searching the codes of particular goods by way of entering the product’s bands.