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 developed...
What is an HS code? Harmonized System codes (HS codes) are a unique identifier to classify the exact type of goods you are shipping. HS codes were created by the World Customs Organization, and are internationally recognized in almost every country. As customs and government bodies now have ...
What is an HTS code? HTS codes: A glossary A brief history of HTS codes Structure of HTS codes How HTS chapters work How HTS codes and tariffs work Common issues with HTS codes How to add HS codes to your Shopify goods The future of HTS codes ...
Here is the answer to the frequently asked question on what is an HTS code and the difference between an HS code & an HTS code
Improper usage of the HS code could result in an improper tariff being applied by customs, which can increase the cost of imports to the customer exponentially. Trade statisticsThe uniform codes also allow for use in tracking trade statistics. In addition to governments, the code is also used ...
Anatomy of an HTS Code HTS is the abbreviation for Harmonized Tariff Schedule. The HTS is a master list of 10-digit codes that classifies internationally traded goods. It was developed in 1988 by the World Customs Organization – not only to determine the duty rates, but to track the value...
HS Code is a universal trading language for products and is an indispensable instrument for both product coding and international trade. HS Code can be defined as the “identification number” of all products in customs procedures.The system is used by more than 200 countries and economies as a...
Overpaying or underpaying: you could pay too much duty or being fined for inaccurately using HS Codes. If your duty has been overpaid, you will not receive a refund, as this is your error. If underpaid, you will be forced to pay the difference and await any fines/charges customs may ...
Accurate HS code classification is also vital for supply chain efficiency. By using the correct codes, businesses can avoid delays in customs clearance, minimize the risk of penalties, and ensure that their shipments reach their destination on time. This efficiency translates to improved customer sati...
HS codes are administered by the World 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 ...