Harmonized code or HS Code a good inevitable aspect within the import export dealings. It is a unique numerical code sent to 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 regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from the 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 provides been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a special ID assigned any particular trading product, which is utilized by more than 200 countries across the planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in existing harmonized code list. The authority does periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, and also a collection 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 put into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code involving his product in all of the forms along with important paperwork that become filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in example of the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for participants to watch for a particular segment of products. The list presents the entire product coding with variety of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the online world with the internet data companies like Infodrive Indian. Besides providing a complete HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods via entering the product's such as :.