Tarrif Codes And Commodity Codes 1r6u28

An HS code or HTS code stands for Harmonized System or Harmonized Tarif Schedule. Developed by the World Customs Organization (WCO), the codes are used to classify and define internationally traded goods. In most cases, in order to import or export a product internationally, the traded good must be assigned an HTS code that corresponds with the Harmonized Tarif Schedule of the country of import.

The difference between an HS code and HTS code is the number of digits within the code. A code with six digits is a universal standard (HS Code) and a code with 7-10 digits (HTS Code) is often unique after the 6th digit and determined by individual countries of import. These codes are important because they not only determine the tarif/duty rate of the traded product, but they also keep a record of international trade statistics that are used in nearly 200 countries. For example, the United States Census uses these codes to determine the value, quantities, weights, countries traded with, and more, of every product that the United States imports and exports.

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States: http://www.datamyne.com/hts/. You can drill into any schedule to see import and export values for any of the 42,847+ HS and HTS codes. These codes go from 2-digit chapters and narrow down to a specific 10-digit code. Currently there are 99 chapters (132 including subchapters), 1,260 4-digit codes, 5,382 6-digit codes, 14,225 8-digit codes, and 21,848 10-digit codes.

Each section of the 10-digit HTS code represents a predefined nomenclature. See a definition of each HTS section in the graphic below. Try clicking into a 10-digit HTS code (Click Here). Notice how the HTS code becomes more defined and segmented as the number of digits increase.

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Harmonized Tariff System Code on wiseGEEK: The actual documentation of the harmonized tarif system is called the Harmonized Commodity Description and Coding System (HS). When goods are delivered from one nation to another, they go through a process of customs in order to keep track of the products and determine the correct volume of imports and exports. A harmonized tarif code is part of the Harmonized Commodity Description and Coding System that was created by the World Customs Organization (WCO). Customs Tariff Code on wiseGEEK: The Harmonized System features 21 sections and 96 chapters of product codes that must be used by WCO to stay compliant with trade policies. Tarif codes are used for taxation, customs and statistical purposes by WCO member countries. Countries assign customs duties based on the harmonized tarif code of the product. Import tarifs and export tarifs generate revenue for nations.

Difference between tariff code and commodity code Harmonized Tarif Schedule of the United States (HTS-US) Code: The HarmonizedTarif Schedule code is a 10-digit import classification system that is specific to the United States. HTS codes, also called HTS numbers, are istered by the U.S. International Trade Commission

Commodity Codes What are commodity codes? Commodity codes are standard classification codes for products and services used to detail where money is spent within a company.

How does the UW use commodity codes and why are they important? The UW uses UNSPSC Commodity Codes. Until recently, commodity codes have only been used behind the scenes in eProcurement. These codes are built in to the products purchased by campus and allowed Procurement Services to see where the campus as a whole spent the bulk of their money for products. This information tells Procurement Services what kinds of items are purchased most, so we can build better contracts to serve your needs. Commodity codes also allow us to look at supplier spend between departments and with peer institutions. Are you paying the same price as the department next door? Is our peer institution getting a better rate? If so, why?

How do these codes help you? Better contracts mean better pricing from our suppliers, and hopefully, better service. Commodity codes let us review rates for each supplier, as well as suppliers offering the same exact product, and make contractual changes to give the UW the best possible price. You’ll see more contracts to purchase from, a dedicated contract specialist for purchases at the supplier, and the best pricing we can obtain.

Finding Commodity Codes Commodity Codes are devised of several different levels with varying degrees of detail in a set hierarchy. The top most category (called Segment) defines the overall type of code. An example is a commodity code that begins with 44 which is Office Equipment and Supplies. Underneath the Segment is the Family

category that defines the code further. So a code beginning with 4412 is for Office Supplies. Commodity Codes can drill down all the way to a specific code within the initial category, such as a code just for pencils. The more numbers behind the original code (not including zeros), the more detailed the code. Example: 44-12-19-03 44120000 - Office Equipment and supplies 44121903 - Pen refills

For Commodity Codes at the UW, we recommend that departments select a Commodity Code that represents the item you are purchasing using the first 4-

digits of a commodity code followed by four zeros. In the example above, if you were paying for pen refills you should select commodity code 44120000. It is not necessary to use code 44121903 that specifies pen refills. *Tip: Each commodity code has a suggested code associated with it. If the recommended code doesn't fit for your payment, simply change the code to what you want to use.

Commodity Code Lists For your convenience, we’ve compiled a list of commodity code main categories and family categories. We have also included a list for the most commonly purchased items. You can search this list either alphabetically or by category. You may also consult the full list of commodity codes in this Excel spreadsheet. Note the hierarchy tabs at the bottom. We recommend using the first four digits followed by four zeros when searching the commodity code in Ariba. Example: If you find Promotional printing on the Commodity tab is 82121505, we recommend using commodity code 82120000 Reproduction Services in Ariba. SeeHow to Use the UNSPSC spreadsheet for helpful tips. If the code you are looking for isn’t found here, try searching by a single keyword that best describes the purchase. (Examples: solvents, supplies, associations, etc.)

Do you know the difference between HS codes, HTS codes, and Schedule B codes? In casual conversation, exporters tend to use these interchangeably; they, for the most part, understand that these are codes representing classifications of products. While it’s not wrong to use them interchangeably in casual conversation, it is important to understand the differences—if not, you could get into trouble, and your shipment could, too! Here are the definitions of the and examples of use cases when it is appropriate to use each term: Harmonized System (HS) Code:

The Harmonized System classification is a six-digit standard, called a subheading, for classifying globally traded products. HS codes, also called HS numbers, are used by customs authorities around the world to identify the duty and tax rates for specific types of products.  HS codes are istered by the World Customs Organization. HS codes are recognized in 98% of world trade. (A Basic Guide To Exporting)  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 products in certain categories. These additional digits are typically different in every country.  HS codes are used in most international export documentation and commercial invoices (unless your product falls into one of these categories). Use Case: You’ll use an HS number when you are referencing the classification with your customers, vendors and anyone outside of the U.S. When you’re completing export documentation, any documents that are used internationally, like the commercial invoice, should display the six-digit HS code instead of a longer code (Click here to see a sample of a completed

commercial invoice). If you use a 10-digit code, the numbers may not be accurate for the country of import. Harmonized Tarif Schedule of the United States (HTS-US) Code:

The Harmonized Tariff Schedule code is a 10-digit import classification system that is specific to the United States. HTS codes, also called HTS numbers, are istered by the U.S. International Trade Commission. It’s very important that all U.S. importers know and use the correct HTS-US codes, because commodity duties are assessed based on this classification. An HTS code takes the same form as an HS code for the first six digits, and then has four differing last digits.

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Use Case: If you are a U.S. importer, this is the code you must use. The comprehensive classification list available for free on the U.S. ITC website. You can learn more about HTS codes in our two-part series, The Harmonized Tariff Schedule–Part I: General Rules of Interpretation Never Written (But Used Daily) and Part II: Beyond the General Rules of Interpretation. Schedule B Code:

The Schedule B code is a 10-digit subset of HTS codes for U.S. exporters. Schedule B codes are used for statistical purposes by the U.S. government to monitor U.S. exports.  Schedule B codes are maintained by the U.S. Census Bureau instead of the ITC.

 As with HTS codes, the first six digits of a Schedule B code should be the same as an HS number; however, the last four digits may be different even than the HTS code. Use Case: Companies that export will typically use the appropriate Schedule B codes for their products rather than HTS codes on their export paperwork and when filing through theAutomated Export System (AES). Since the Schedule B codes are a subset of the HTS codes, it's usually quicker and easier to classify products under Schedule B than HTS. Companies that are already classifying their products using the HTS codes for their imports may want to use HTS classification for all their products to eliminate the need to classify their products twice—once under HTS and once under Schedule B. That is perfectly acceptable, but do keep in mind that there are certain HTS codes that can't be used for exporting. Also, the reverse is not true. You cannot use Schedule B codes in place of HTS codes for import classifications. When Not to Use a Code

Some exporters prefer not to include any HS code on their commercial invoices. It's generated a lot of discussion in the Customs Specialist group on LinkedIn. As a general rule I think it's a good idea to include the proper code on the invoice, but I address some reasons why you might not in our article, Why You Shouldn’t Include HS Numbers on a Commercial Invoice.

What Are Schedule B Codes?

The Schedule B is a code built upon the first six digits that make up the HS code. Additionally, the Schedule B code is a U.S.-specific coding system used by the U.S. government to monitor U.S. exports. According to the export.gov website, “There is a Schedule B number for every physical product, from paperclips to airplanes.” Here’s a little more about Schedule B codes:  There are 10 digits in each Schedule B code;  Schedule B codes are used exclusively in the United States;  They are istered by the Census Bureau’s Foreign Trade Division for export statistics.  Schedule B numbers are required to be reported in the Automated Export System (AES) for shipments valued at more than $2,500 or when your export requires a license.

Commdity Codes : Schedule B Codes ( Export Secenarios) Tariff Codes : HTS Code (Harmonized Tariff Codes ) for Import Duty Calculations.

In the Global Trade HTS is mostly Used for duty calculations and ECCN (Export Control Classification Number) is used in Exports for determine the required license. General Trade practice is ECCN for Export and HTS for Import.

Tariff Code: A tariff code is a product-specific code as documented in the Harmonized System (HS) maintained by the World Customs Organization (WCO.)Tariff codes exist for almost every product involved in global commerce. ... The more digits in a tariff code string, the more specific the product it identifies.

What is the HS Code? The Harmonized Commodity Description and Coding System generally referred to as "Harmonized System" or simply "HS" is a multipurpose international product nomenclature developed by the World Customs Organization (WCO).

What is the meaning of harmonized code? The Harmonized Commodity Description and Coding Systems generally referred to as "Harmonized System" or simply "HS Code" is a 6-digit standardized numerical method of classifying traded products developed and maintained by the World Customs Organization.

What is the HTS? The Harmonized Tariff Schedule of the United States (HTSUS), also referred to as the Harmonized Tariff Schedule of the United States Annotated (HTSA), is the primary resource for determining tariff (customs duties) classifications for goods imported into the United States.

What is the HS Code for export? The data refers to details on Import Export Classification, ITC (HS) Code and Import Policy. ITC (HS) codes are better known as Indian Trade Clarification (ITC) and are based on Harmonized System (HS) of Coding.