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Harmonized Code List an Integral Part of the Export import Trade

Harmonized code or HS Code a great inevitable aspect in the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. It 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 through 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 that has been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a fashionable ID assigned any particular trading product, which is simply by more than 200 countries across earth.

DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized IEC Code Online Application India list. 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, which is a collection 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 broken into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes for several products are mentioned.

Every trader dealing in international market has to note the particular code connected with his product in all the forms as well important paperwork that needs to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of products. The list presents the full product coding with a number of categories, simplifying the task of importers and exporters. You can easily access this code list over the net with the online data brands like Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods it really is quite entering the product’s names.