Harmonized code or HS Code a good inevitable aspect for the import export deal. It is a unique numerical code used on various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. It is used to describe particular goods your 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 techniques. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a good ID assigned any particular trading product, which is utilized by more than 200 countries across society.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the actual defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, and also a collection of such codes classified under 21 parts. 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 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 mention the particular code number of his product in all of the forms as well important paperwork that must be filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even 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 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 merchandise. The list presents the whole of the product coding with amount of categories, simplifying the task of importers and exporters. You in many cases can access this code list over the web with the internet data manufacturers like Infodrive Sweden. Besides providing a complete HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods via entering the product’s names.