The Harmonized System is an international nomenclature for the classification of products. It allows participating countries to classify traded goods on a common basis for customs purposes. At the international level, the Harmonized System (HS) for classifying goods is a six-digit code system.
Is HS code Country Specific?
The HS codes have been being used by 98% of Import Export trade all over world. In other words, first six digits of HS code (HTS code) are same in all countries. But countries can add additional digits to categorize and define commodities at more detailed level without modifying or changing first six digits.
Is a HS code a commodity code?
Six-digit commodity codes are HS codes (WCO Harmonized System). They are used worldwide in monitoring trade volumes and applying international trade measures to goods. The HS nomenclature forms the basis for the 8-digit Combined Nomenclature and the 10-digit Taric Nomenclature.
What is an HS code for customs?
HS (Harmonized Commodity Description and Coding System) codes are product classification codes used by U.S. Customs and all other members of the World Customs Organization (WCO) to classify goods for customs purposes.
What is the HS Code of your product?
The HS code for your product will be listed on the commercial invoice a buyer receives with their order. It may be used to classify products upon export and to calculate applicable taxes and duties upon import.
How many countries use the Harmonized System?
The Harmonized System (HS) is used by more than 200 countries and economies as a basis for their Customs tariffs and for the collection of international trade statistics.
How can I find HS Code?
To determine what the HS Code for your product is in another country, you can use a look-up tool in a foreign tariff database, such as the Customs Info Database.
What is a 10 digit commodity code?
A commodity code is a ten-digit number allocated to goods to classify imports ?️ from outside the EU. Every item will fall under a commodity code – and this commodity code dictates your duty rating, as well as alerts you to any import or export restrictions. The duty and VAT ratings you’ll be charged for your goods.
What is the Harmonized System of Tariff Nomenclature?
Coding of traded products by the World Customs Organization. The Harmonized Commodity Description and Coding System, also known as the Harmonized System ( HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products.
What does 01 mean in international harmonized code?
In the example above, the 01 refers to coffee. 3. Sub-heading: The last two digits of the international Harmonized Code are more specific, defining subcategories of products. For example, caffeinated coffee beans are 0901.21, but decaf is 0901.22.
When did the harmonized classification system come into force?
The Harmonized System was introduce d in 1988 and has been adopted by most of the countries worldwide. It has undergone several changes in the classification of products. These changes are called revisions and entered into force in 1996, 2002, 2007, 2012 and 2017. Detailed amendments to each HS nomenclature are available at attachment links below.
Why is the HS called the Harmonized System?
This is the issue that the Harmonized Commodity Description and Coding System (popularly known as the Harmonized System or the HS) is designed to address. It is a nomenclature which enables all physical goods moving across borders to be assigned to a class in a uniform manner all over the world.
