Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code is an inevitable aspect within the import export trade. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Around the globe 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 your 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 which been developed at par with the international coding system to suit automobile 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 entire world.

dgft IE Code Online Application Procedure India India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code list of reasons. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a range of such codes classified under 21 business units. 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. Both these 21 sections is further divided into 98 chapters. The chapters are further separated into sub-headings to which particular HS Codes for different products are mentioned.

Every trader dealing in international market has to bring up the particular code associated with his product in all the forms and other important paperwork that must be filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, end up being have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the whole of the product coding with amount of categories, simplifying a job of importers and exporters. You can easily access this code list over the web with the internet data the likes of Infodrive Sweden. Besides providing a detailed HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s makers.