Getting Down To Basics with Technology
Harmonized Tariff Schedules.
A Harmonized Tariff Schedule code can be referred to as a harmonized tariff schedule developed by the World Customs Organization and are codes which are used to define and classify imported and exported goods. The the basis used by the Harmonized Tariff Schedule to classify goods is according to the name, use, materials used for its construction and then a ten digit classification code number is assigned to the good. Harmonized Tariff Schedule codes are specific to the United States and are administered by the United States International Trade Commission. Commodity duties are based on Harmonized Tariff Schedule codes classifications and as such Harmonized Tariff Schedule codes are very important. The first, six digits of a Harmonized Tariff Schedule code are very similar to an HS code but the last four digits are differing. Harmonized Tariff Schedule codes are different from both HS codes and schedule B codes.
A Harmonized System code is a six-digit standard for classifying globally traded products. The six digit standard is known as the subheading. Since HS codes are internationally recognized customs authorities all over the world use it to identify duty and tax rates for specific types of products. Harmonized system codes are administered by the World Customs Organisation and are recognized in the majority of world trade. HS codes are universal classification tools recognized by many governments.Harmonized system codes are universal classification methods which are recognized by many governments. In order to further distinguish the products to different categories governments around the world may put additional numbers to the HS codes. These numbers may vary from country to country. HS codes are used as for reference in the documentation of export and import goods and also in commercial invoices.
The HS is organized into sections which are then subdivided into chapters which are then subdivided to headings and subheadings. The section and chapter parts show broad categories while the headings and subheadings further describe the commodities to narrower categories. For the sections and chapters the commodities are arranged according to the technological complexity. In the sections natural goods come first while technological complex goods are described in later sections. Machinery comes in later sections while animal products and farm products come in the earlier sections. For the chapters, which is also seen in sections commodities are arranged according to their degree of manufacture.
Schedule b code is a ten digit subset of HTS codes for American exporters. They are used by the US government for statistical purposes to monitor their export. The United States Census Bureau if the body responsible for maintaining the schedule B codes.These schedule b codes are maintained by the United States Census Bureau. It is faster and much easier for classification of products under these codes as compared to using Harmonized Tariff Schedule codes.