What You Have to Know About Harmonized System Codes
When you are operating a business online, there are those instances that you would consider if you want to sell the products that you have to the whole world. Many countries use the harmonized system so that they can classify products that are imported and those products that are exported. If you want to ship your product to an international market, it is required by law that the product that you are selling has a harmonized code. Every product regardless of its type is required to have the code if it is being shipped to an international market.
The harmonized system code normally splits the product into two groups. The first group is normally used to categorize the product and the second one issued to define more the category that that product is placed. Each product is normally assigned a six digit code. If you happen to be shipping clothes, the first two digits will classify the product as clothing, the second other digits will then show that the clothes are trousers and the last two digits will show that ha trousers are black men's trousers, visit website here!
The international system code is further added description depending on the country that is importing or exporting these products. If the country happens to be the US, then the product will be assigned more four codes. These four digit codes are normally referred to the schedule B number used to classify the product further. So the product being imported or exported from the US will have a ten digit code.
You have the ability to know the schedule B number of your product when you research on the internet through the HS code finder. You can as well get the information of that product when you ask the fulfillment provider. On the chance that you are shipping a product that has a value of more than 2500 dollars, then you should make sure that you report the schedule B number of the product you are shipping to the Automated Export System. You should also do this if you happen to be shipping a product that requires a license. Check this site for more info!
The classification code is normally used to impose tariffs as well as duties. It is important to ensure that the product that you are shipping has a classification number similar to the country that is receiving that product if you want to get duty rate. For more facts and information about harmonized system code, visit https://www.youtube.com/watch?v=2hGUx5bfFPw.