Harmonized Code List an Integral Part of the Import and export Trade

Harmonized code or HS Code a good inevitable aspect for the import export trade. It is a unique numerical code allotted to various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. Around the globe used to describe particular goods your import export trading platform.

The ITC HS Code List or India harmonized code list is regulated and maintained through 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 includes been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a good ID assigned a new particular trading product, which is used by more than 200 countries across earth.

DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code place. The authority carries out periodical pursuits like commodity description, weeding the defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is a collection of such codes classified under 21 sections. 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 divided into sub-headings under which particular HS Codes for different products are mentioned.

Every trader dealing in international market has to bring up the particular code involving his product in all the forms and also important paperwork that end up being filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are finished in experience of 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, it have been very troublesome for participants to investigation for a particular segment of items. The list presents the whole of the product coding with amount of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the online world with the online data brands like Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, vehicle has also provided an indoor search box for searching the codes of particular goods via entering the product’s makers.