Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code is an inevitable aspect in the import export trade. 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. Is used to describe particular goods your import export trading platform.

The ITC HS Code List or India harmonized code list is regulated and maintained by the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import action. It is an eight digit code which been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a rare ID assigned any particular trading product, which is through more than 200 countries across the world.

DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a number 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 broken into 98 sections. The chapters are further put into sub-headings to which particular HS Codes for several products are mentioned.

Every trader dealing in international market has to say the particular code connected with his product in all the forms and also important paperwork that end up being filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in experience 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, might have been very troublesome for the traders to search for a particular segment of products. The list presents the whole of the product coding with amount of categories, simplifying a job of importers and exporters. You can easily access this code list over the online world with the internet data brands like Infodrive Of india. Besides providing a detailed HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods because of entering the product’s companies.