What Is Hs Code In Shipping Terms

More and more companies are shipping all over the world.

What is hs code in shipping terms. The hs harmonized commodity description and coding system code is a 6 10 digit number that is required for all international shipments. Individual countries have extended this to 10 digits for import and 8 for export. Harmonized system hs codes among industry classification systems harmonized system hs codes are commonly used throughout the export process for goods. A global standard classification system is a must.

The hs code system is based on a 6 digit nomenclature. Classification is the important step in the whole import export process. In a lot of countries there are cut offs and it is not possible for the manifest to be amended once it has been filed with customs. The harmonized commodity description and coding system also known as the harmonized system hs of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products.

This number is used by customs to identify the products. The shipping line agent at pod will submit the corrector details to customs and port authorities as required by their regulations. Over 98 of the goods involved in international trade are classified in terms of the hs code. Just head to the top of this page start entering the product you re shipping into the hs code finder and the calculator will pull results from the customs hs tariff codes list.

The hs system is used by over 200 countries and other economies around the world for the collection of international trade statistics and as a basis for customs tariffs. It helps customs in various countries to make sure that they are talking about the same product and the hs code of a product also determines the import duties. Worldwide it is a six digit code framework for grouping and. April 12 2020 september 16 2009 by hariesh manaadiar categories trade tags harmonised code hs code shipping education shipping knowledge 57 comments estimated reading time 9 minutes you would have seen this terminology across many trade documentation or correspondences.

The hs code is a worldwide terminology for the classification of items. It is used by customs authorities around the world to identify products when assessing duties and taxes and for gathering statistics. The harmonized commodity description and coding system hs code of the tariff nomenclature is an international standardised system of names and numbers for the classification of commodities. It came into effect in 1988 and has since been developed and maintained by the world customs organization wco formerly the customs co operation council an independent.

Since the harmonized system code uses very specific words it may be easier to browse hs codes instead of searching. Manifest corrector cannot be filed at all stages. The harmonized system is a standardized numerical method of classifying traded products.