HS Code Finder for HS code for Imported & Exported Goods

When you’re in the business of exporting and importing commodities, you are probably aware of the Harmonized Commodity Description and Coding System, often known as the Harmonized System (HS) or Harmonized System of Nomenclature (HSN). It is a globally acknowledged system of categorizing traded products. Its primary duty is to assist customs authorities in identifying items and assessing the appropriate duties and taxes. Each product in the Harmonized System is given a unique numerical identifier known as the HS code. This code has a minimum of six digits and may commonly have up to ten digits (though China has a 13-digit code). It is required to include your product’s HS code in your shipment papers, such as your business invoice, packing list, and shipping bill when exporting or importing. It is also your legal obligation as an exporter or importer to appropriately identify your product’s HS code. Incorrect categorization can lead to issues that you’d be wise to avoid.

What do you mean by HS Code?

The Harmonized System was created to address the complexities and expenses associated with multiple product classification systems in different nations. According to this research, before its inception, a single product may be categorized as many as 17 times in a single transaction. The Harmonized System went into effect on January 1, 1988. The World Customs Organization, located in Belgium, administers and updates it every five years (WCO). More than 200 nations and economies utilize the system, which covers more than 98 percent of commodities in international commerce.

More than 5,000 product groupings are included in the Harmonized System. There are 97 Chapters and 21 Sections to this. Each chapter is subdivided into headings and subheadings as needed. Raw materials are typically organized first, followed by unworked items, semi-finished products, and completed products. So, Chapter 1 is about “Live Animals,” Chapter 41 is about “Raw Hides and Skins (other than Furskins) and Leather,” and Chapter 64 is about “Footwear.”

Each product in the Harmonized System is identifiable by a six-digit number that is placed legally and logically according to specified principles. An HS code’s six digits are divided into three parts:

● The first two numbers indicate the products’ chapter. 09 (Coffee, Tea, Mate, and Spices)

● The following two digits identify a chapter heading. 0901 as an example (Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion)

● The last two numbers signify a sub-heading that narrows the categorization even more. As an example, consider 090111. (Coffee, not roasted, not decaffeinated). In the lack of a subheading, the last two digits will be shown by zeroes.

Why is the Harmonized System so crucial?

The major objective of the search Hs Code is to serve as a foundation for customs tariffs all over the world. However, it also has other applications, such as:

● International trade statistics gathering

● Internal taxation, such as excise charges and value-added tax, is collected (VAT)

● As a foundation for freight and transportation charges

● As a foundation for origin rules (which are the criteria to determine the national source of a product)

● As the foundation for determining preferential tariffs and MFN (most favored country) tariffs under free trade agreements

● As a foundation for countries to formulate their trade policy

● For the purpose of monitoring-controlled products (narcotics, chemical weapons, endangered species, waste, etc.)

● As a facilitator of customs processes and controls such as risk assessment and compliance

How to Apply HS Codes?

Governments, customs administrations, statistics organizations, regulatory bodies, and traders all utilize HS codes. As an importer/exporter, you are required by law to appropriately categorize your goods and submit the relevant HS code in your shipping paperwork.

The use of the right HS code ensures:

● You pay the appropriate tax.

● You obtain the advantages to which you are entitled, such as a customs duty exemption.

● You are notified whether your goods are subject to anti-dumping duty, require a special shipping license, or are subject to a trade quota.

HS Code Finder for HS code for Import & Export data. If you are searching for a reliable source to get HS code for your business then don’t look further because we, Seair Exim Solution are all set to help you. We are just a call away!

Hurry up Contact us Today!