Find out everything you need to know about HS (Harmonized System) codes, including the structure and components of HS codes, and why they are important.
HS codes are administered by theWorld Customs Organization. HS codes are recognized in 98% of world trade. There are six digits in an HS code. You use an HS code because it is a universal classification tool. Many governments add additional digits to the HS number to further distinguish prod...
What is an HS code? HS codes, also known as commodity codes or tariff codes, are used to identify the item you’re sending so the customs authority in the receiving country can charge the correct customs fees and taxes. HS stands for Harmonized System. Harmonized System Codes were develo...
1. Implementation HS officially began implementing on January 1, 1988, and once every 4 years. More than 200 countries in the world have used HS, global tradeMore than 98%of goods are classified in HS. The overall structure of HS includes three parts: classification rules; classes, chapters,...
Unlike the HS, this system uses 10-digit commodity codes. The first six digits are based on the international HS, while the next four further distinguish goods in certain categories. This means you can convert a Harmonized Tariff code to an HS code by removing the last four digits. The ...
When you fill out a waybill for your international shipment, you will be required to enter the HS code(s) of the goods. Customs authorities will use this code to understand what is being shipped and apply the correct taxes and duties. If you include the incorrect code, you could end up...
Commodity Description and Coding System (HS) is the mechanism by which international tariffs are standardized. If you ship items overseas, you are required to classify them according to the harmonized system. Each country has its own Harmonized Tariff Schedule (HTS),i.e, USA HTS Code 8473309100...
What is HS Code and HTS Code? HS and HTS Codes are widely used in the world of international trading. HS Code stands for Harmonized System Code and HTS Code stands for Harmonized Tariff Schedule Code. HTS and HS Codes were both developed by the World Customs Organization (WCO) and are us...
HS and HTS codes: What’s the difference? HS (Harmonized System) codes are a set of numerical codes used to classify traded goods worldwide. HTS (Harmonized Tariff Schedule) codes, however, are used by US Customs and Border Protection to determine the applicable customs duties, taxes, and ...
Understand what HSN codes are, their structure, and their significance in GST compliance. Learn how to identify and use HSN codes for your business.