Table of Contents
Where can I find the HS Code?
The current version of the Harmonised System, which is the 2017 edition or HS 2017, is available on the WCO website. In India, you can search the DGFT website or several non-governmental portals for the ITC (HS) code list. In the US, you can look up the Harmonised Tariff Schedule on the ITC website.
What is my products HS Code?
The HS code for your product will be listed on the commercial invoice a buyer receives with their order. It may be used to classify products upon export and to calculate applicable taxes and duties upon import.
What is Section 2 on rates 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.
Who are the column 2 countries currently under rates of duty?
Currently, the countries with Column Two status are Cuba, North Korea, Russia and Belarus. Many countries that qualify for column one rates may also qualify for preferential duty rates under a variety of special trade agreements as listed in the “Special” sub column of Column 1.
What is rates of duty?
Duty rates are a percentage determined by the total value of the goods paid for in another country. Duties provide a form of commerce protection for jobs, the economy, the environment, and other interests by controlling the influx and outflow of merchandise.
How do I read my HTS schedule?
Global and U.S. HTS Codes have four components, which are identified by the green numerals beneath the digits:
- Chapter: In this example, 66 is the chapter.
- Heading: In this example, 6603 is the heading.
- Subheading: 6603.20 is the subheading.
- Extra digits: 6603.20.
How do I calculate VAT and customs?
To calculate the VAT on your shipment, add up the goods value, freight costs, insurance, import duty and any additional costs. Then multiply the total by the destination country’s applicable VAT rate. The result is the amount of VAT you’ll need to pay customs for your shipment.
How much is customs and import tax?
Up to $1,600 in goods will be duty-free under your personal exemption if the merchandise is from an IP. Up to $800 in goods will be duty-free if it is from a CBI or Andean country. Any additional amount, up to $1,000, in goods will be dutiable at a flat rate (3%).