Harmonized code or HS Code is an inevitable aspect of the import export deal. It is a unique numerical code sent to various products and commodities Documents required for IEC Code Registration India while shipping from one country to another. Around the globe used to describe particular goods in the 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 has been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a special ID assigned to a particular trading product, which is through more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, and also a selection 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. Each of these 21 sections is further put into 98 sections. The chapters are further put into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code number of his product in all the forms along with important paperwork that must be filled up at 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 experience with the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the entire product coding with variety of of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the world wide web with the internet data brands like Infodrive Sweden. Besides providing a detailed HS tariff list, the company has also provided an interior search box for searching the codes of particular goods simply by entering the product’s makers.