Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code can be an inevitable aspect within 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 nation to another. Around the globe used to describe particular goods your past import export trading platform.

The ITC HS Code List or India harmonized code list is regulated and maintained by the Director General of Foreign Trade or DGFT 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 the requirements of the international trading community from the country. The code is basically, a good ID assigned any particular trading product, which is simply by more than 200 countries across entire world.

DGFT India in the governing authority that looks after the changes or formulation or addition of new codes the actual existing harmonized code list. 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, and also 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. Each of these 21 sections is further put into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes many products are mentioned.

Every trader dealing in international market has to bring up the particular code regarding his product in all the forms as well important paperwork that end up being filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are carried out in reference to the code mentioned ultimately papers. Hence one can say 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 watch for a particular segment of items. The list presents the whole of the product coding with variety of categories, simplifying the duty of importers and exporters. You is likely to access this code list over the online world with the online data manufacturers like Infodrive The indian subcontinent. Besides providing a detailed HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods via entering the product’s bands.

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