Are you struggling to understand Harmonized System codes? Do you know what the HS, HTSUS, and Schedule B codes are, and how they differ? In this blog post, we’ll explain everything you need to know about Harmonized System codes. We’ll provide an overview of HS, HTSUS, and Schedule B codes, and we’ll explain how to use them correctly. By understanding Harmonized System codes, you’ll be able to better navigate the world of international trade. So, let’s get started.
What Is the Harmonized System (HS)?
The Harmonized System (HS) is an internationally agreed-upon system of classification for goods. It is used by customs authorities around the world to identify and assess tariffs on imported goods. The HS consists of six digits, with the first two digits identifying the chapter, the next two identifying the heading, and the last two identifying the subheading. The HS is constantly being updated and revised to keep up with changes in global trade.
In addition to Harmonized Commodity Description and Coding System (Harmonized System or HS), there are other commodity description and coding systems that might be more appropriate for your needs such as Schedule B (United States), CN (China), TARIC (EU), NCM (Brazil), FTZ (US). While the exact nomenclature may vary from country to country, these systems are all based on the same principles as the HS.
What Is the Harmonized Tariff Schedule of The United States (HTSUS)?
The Harmonized Tariff Schedule of the United States (HTSUS) is a list of all the tariffs and duties that are levied on goods imported into the United States. The HTSUS is used by U.S. Customs and Border Protection to determine the rate of duty that will be applied to an imported good. You can avail harmonized system code service that helps in international trade identification.
The HTSUS is divided into 21 sections, each of which covers a different type of goods. To find the correct tariff rate for a particular good, you must first determine its classification under the HTSUS.
Once you have determined the classification, you can Look up the corresponding tariff rate in the HTSUS. The HTSUS is revised regularly, so it is important to ensure that you are using the most up-to-date version when determining the tariff rate for an imported good.
How Do HS And HTSUS Codes Differ?
The HS code system is used by over 200 countries as a means of classifying goods for tariff purposes. The Harmonized System (HS) is a 6-digit code that is used to classify merchandise. These codes are organized into 21 broad categories, or “chapters.”
The first two digits of the HS code represent the chapter in which the classification falls; the remaining four digits provide greater detail. For example, Chapter 44 includes wood and wood products, while chapter 70 pertains to glass and glassware.
The HTSUSA is a 10-digit code that is used to classify merchandise for import into the United States. Unlike the HS code, which is used for customs purposes only, the HTSUSA is also used for statistical and evidence-gathering purposes.
The first six digits of the HTSUSA correspond to the HS code; the remaining four digits provide greater detail about the product being imported.
For example, HTSUS 4418.00.00 covers “Builders’ Joinery and Carpentry of Wood,” while HTSUS 4418.21.00 covers “Doors and Their Frames and Thresholds of Wood.” As you can see, the HTSUSA provides more granularity than the HS code when it comes to imports into the United States.
What Is a Schedule B Code?
A Schedule B code is a 10-digit number used by the U.S. Census Bureau to classify export commodities. The first six digits of a Schedule B code correspond to the Harmonized System (HS) code, which is used to track international trade.
The HS code is an internationally recognized system that is used to classify traded goods. The last four digits of a Schedule B code are reserved for use by the U.S. government and are not used in international trade statistics. The Schedule B codes are maintained by the U.S. Census Bureau and are updated on a yearly basis.
The Schedule B codes are used by the U.S. government to collect data on exported goods and to track trends in international trade. The data collected through the Schedule B codes are used by businesses, economists, and policymakers to assess the health of the economy and to make decisions about trade policy. The Schedule B codes are also used by researchers to study the impact of trade on different sectors of the economy. You can also avail of customs brokerage services which are provided by a licensed broker to facilitate the clearance of goods through customs. The main function of a customs broker is to prepare and file documentation required by customs to release imported goods into the country.
To ensure that you are classifying and declaring your products correctly for international trade, it is important to understand Harmonized System Codes (HS codes), HTSUS, and Schedule B codes. The Harmonized Tariff Schedule of the United States (HTSUS) is the compilation of all U.S. tariff schedules, while Schedule B codes are used by US Customs and Border Protection to identify specific products. By understanding these coding systems, you can be sure that you are accurately reporting the value, description, and classification of your goods when importing or exporting them.