Harmonized code or HS Code a great inevitable aspect for the import export dealings. 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. Is used to describe particular goods in the import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through 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 which been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a special ID assigned the particular trading product, which is utilized by more than 200 countries across the planet.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, which is a selection 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. Both these 21 sections is further split up into 98 chapters. The chapters are further separated into sub-headings this agreement particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all of the forms and other important paperwork that needs to filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are executed in example of the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of items. The list presents the full product coding with variety of of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the internet data manufacturers like Infodrive Indian. Besides providing a comprehensive HS tariff list, organization has also provided an internal search box for searching the codes of particular goods via entering the product’s companies.