Harmonized code or HS Code can be an inevitable aspect in the import export dealings. It is a unique numerical code allotted to various products and commodities Documents required for IEC Code Registration India while shipping from nation to another. Is used to describe particular goods regarding 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 of the country. The code is basically, a rare ID assigned any particular trading product, which is utilized 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 code list. The authority does periodical activities 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 number 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. All of these 21 sections is further separated into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all the forms along with important paperwork that must be filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are carried out in reference to the code mentioned ultimately papers. Hence one can say 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 product coding with amount of categories, simplifying the duty of importers and exporters. You could access this code list over the web with the internet data the likes of Infodrive Of india. Besides providing an end 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 bands.