What is Htsus classification?
In the United States, we use the Harmonized Tariff Schedule of the United States (HTSUS) for statistical purposes and for classifying imported goods to determine the appropriate tariff rates.
How many sections does the Htsus have?
Chapters. The tariff schedule has 99 chapters under 22 sections, and various appendices for chemicals, pharmaceuticals, and intermediate chemicals for dye.
What is HTS column 2 rate of duty?
Duty rates in column (2) are higher and are required for those countries that do not have normal trade relations status with the United States. The countries that are eligible for international trade programs or subject to column 2 duty rates are listed in the HTS.
What is column 2 of the Htsus?
Column 2 (the so-called “statutory rates”) applies to countries listed in general note 3(b); the general notes set forth the rules for applying the HTS. Embargoes, anti-dumping duties, countervailing duties, and other very specific matters administered by the Executive Branch are not contained in the HTS.
Why is the HTSUS important in international trade?
The Harmonized Tariff Schedule is critical in ensuring fair, accurate processing of tariffs for US imports. From maintaining productivity to ensuring compliance with import laws, the benefits of the HTS extend far beyond the consequences of not using it.
How do I find my Canadian HS code?
Visit www.wcoomd.org to access the full list of HS codes. Get results instantly. You can print them or receive them by email.
What is my tariff number?
The tariff number of an item, also known as the “harmonized code” or “HS code,” is a standardized number given to a particular product or type of product for easier identification during customs processing and better standardization of international shipping.
What is the current customs duty rate?
q Peak rate of customs duty has been reduced from 40% to 35%. B Changes in customs duty rate structure : q 5 major ad-valorem rates of basic customs duty, namely 5%, 15%, 25%, 35% and 45% have now been reduced to 4 major ad-valorem rates of basic customs duty, namely, 5%, 15%, 25% and 35% .
How do I find my HS tariff code?
You can use this link: http://www.foreign-trade.com/reference/hscode.htm to help determine what the HS code for your product should be. The HS code is important for buyers when importing your products and can be added to your product in the Info section of the Products tab in your Supplier Center.
What is the use of HS code?
The Harmonized System is a standardized numerical method of classifying traded products. It is used by customs authorities around the world to identify products when assessing duties and taxes and for gathering statistics.