Harmonized code or HS Code can be an inevitable aspect of this 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 nation to another. It is used to describe particular goods your past 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 which has 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 rare ID assigned a new particular trading product, which is through more than 200 countries across the world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a collection of such codes classified under 21 sectors. 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. All of these 21 sections is further separated into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all the forms as well important paperwork that must be filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in hitting the ground with 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, it have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with variety of categories, simplifying a job of importers and exporters. You is likely to access this code list over the internet with the internet data the likes of Infodrive India. Besides providing an end HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods via entering the product’s bands.