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

Harmonized IEC Code Online Application India or HS Code is an inevitable aspect in the import export deal. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Is 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 from the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import procedure. It is an eight digit code provides 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 rare ID assigned any particular trading product, which is through more than 200 countries across society.

DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, and also a bunch 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 divided into 98 sections. The chapters are further split into sub-headings under which particular HS Codes many products are mentioned.

Every trader dealing in international market has to say the particular code regarding his product in all the forms as well important paperwork that end up being filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in experience of the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, end up being have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the sum of the product coding with a number of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the web with the online data manufacturers like Infodrive Sweden. Besides providing a comprehensive HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s names.