Harmonized code or HS Code can be an inevitable aspect of this import export deal. It is a unique numerical code sent to various products and commodities Documents required for IEC Code Registration India while shipping from nation 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 from your 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 includes been developed at par with the international coding system to suit automobile of the international trading community for the country. The code is basically, a unique ID assigned a new particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code list. The authority does periodical activities like commodity description, weeding the defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a bunch of such codes classified under 21 sections. 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 split up into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms as well important paperwork that must be 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 example of 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, always be have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the full product coding with variety of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the internet with the online data manufacturers like Infodrive Sweden. Besides providing a complete HS tariff list, the corporate has also provided an enclosed search box for searching the codes of particular goods it really is quite entering the product’s such as :.