What are HTS items?
What are HTS items?
HTS (Harmonized Tariff Schedule) codes are product classification codes between 8-10 digits. The first six digits are an HS code, and the countries of import assign the subsequent digits to provide additional classification. U.S. HTS codes are 10 digits and are administered by the U.S. International Trade Commission.
How do you classify HTS?
The HTS is a 10-digit code designed so that each article falls into only one category. It is divided into chapters, each of which has a 2-digit number. Each product category within the various chapters is designated by 4, 6, 8, or 10 digits. The 4-digit categories are called headings.
What is HTS in history?
The Harmonized Tariff Schedule of the United States (HTS) was enacted by Congress and made effective on January 1, 1989, replacing the former Tariff Schedules of the United States. The HTS comprises a hierarchical structure for describing all goods in trade for duty, quota, and statistical purposes.
What is HS code UK?
What is a HS code? Harmonised System (HS) codes are an international standard for calculating Import Duty tax. HS codes form the basis for tariff codes all over the world. For instance, the UK commodity codes are taking their first 6 digits from the corresponding HS code.
What is HS Code in Bangladesh?
HS Codes or Harmonized System Codes are an industry standard by which export goods are tagged with. The Harmonized System is a numerical method that is a standardized way of classifying trade products.
What does an HTS code look like?
An HTS code takes the same form as an HS code for the first six digits, and then has four differing last digits. 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 ITC website.
What is HTS book?
The Harmonized Tariff Schedule of the United States (HTS) sets out the tariff rates and statistical categories for all merchandise imported into the United States. The HTS is based on the international Harmonized System, which is the global system of nomenclature applied to most world trade in goods.
How old is HTS?
Editions of the Harmonized Tariff Schedule of the United States Annotated (HTSA) are available from 1989 (the first year of publication) – present.
What does the HTS code mean?
The first six digits of the HTS code identify all items in international trade and are the same for all countries that use the HTS. The last two or four digits are country specific; in the U.S. these last four digits provide the duty rate and balance of trade statistical reporting suffix for the imported goods.
What is happening to the HTS?
Worldwide the HTS is being updated and changed to allow for new product innovations and technology. In addition, governments are evaluating new revenue sources and seeking to balance their trade with other countries.
What is the HTS code for umbrellas?
Let’s look at an example for umbrellas: 6603.20.3000 HTS Code with the additional designation “For hand-held umbrellas chiefly used for protection against rain” (vs. 6603.20.9000, which is for all other hand-held umbrellas not chiefly used for protection from rain).
Who is responsible for establishing the correct HTS classifications?
As an importer, you are responsible for establishing the correct HTS classifications used on your import entries and/or ISF security filings.
