Harmonized code or HS Code can be an inevitable aspect in the 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 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 operations. 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 belonging to the country. The code is basically, a good ID assigned the particular trading product, which is through more than 200 countries across entire world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code place. The authority does periodical pursuits like commodity description, weeding the defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a range 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. Every 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 associated with his product in all of the forms along with important paperwork that become filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are executed in example of the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, end up being have been very troublesome for participants to search for a particular segment of items. The list presents the whole of the product coding with a lot of of categories, simplifying the task of importers and exporters. You could access this code list over the world wide web with the online data manufacturers like Infodrive Sweden. Besides providing a detailed HS tariff list, the company has also provided an interior search box for searching the codes of particular goods by way of entering the product’s makers.