Harmonized code or HS Code can be an inevitable aspect for the import export make trades. It is a unique numerical code allotted to various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. Its 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 through 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 which has been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a unique ID assigned a new particular trading product, which is used by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority carries out periodical activities like commodity description, weeding the particular defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, may a number of such codes classified under 21 pieces. 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. 1 of these 21 sections is further broken into 98 sections. The chapters are further split into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all the forms and also important paperwork that to be able to filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in reference to the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for the traders to search for a particular segment of items. The list presents the sum of the product coding with variety of of categories, simplifying the task of importers and exporters. You could access this code list over the web with the internet data companies like Infodrive Of india. Besides providing a complete HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods by way of entering the product’s companies.