What is a commodity code USA?

Commodity codes are standard classification codes for products and services used to detail where money is spent within a company. Using these codes tells Procurement Services what kinds of items are purchased most, so we can build better contracts to serve your needs.

How can I find my US HS 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 HTS code for US Customs?

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.

What is an 8 digit commodity code?

A commodity code is a sequence of numbers made up of six, eight or ten digits. The commodity code determines. the customs duties and other charges levied on the goods. the preferential treatments that may apply to their import, and.

Is Commodity Code same as HS Code?

Commodity Codes can also be loosely referred to as Taric Codes, HS Codes, Tariff Codes or Tariff Headings. It is important that you provide the right commodity code to ensure that you pay the correct amount of customs duties, taxes and other charges.

Where can I find HS Code?

For exporters or importers who are not sure of the HS/AHTN codes for their products, you can refer to the officers at the Malaysia Royal Customs Department Head Office or any of its branch offices for assistance. This service is provided free of charge. For more info, please visit http://www.customs.gov.my.

What is HSN code?

HSN code stands for “Harmonized System of Nomenclature”. HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide. It was developed by the World Customs Organization (WCO) and it came into effect from 1988.

Do I need commodity codes?

Why do you need a Commodity Code? The correct declaration of goods enables you to ensure that you pay the right amount of tax and duties, and that you can take advantage of any Customs benefits where relevant, such as duty suspension or preferential duty rates.

What is the meaning of commodity code?

Commodity codes are used to classify goods for import and export within the European Union (EU) or outside. The aim of classification is to pay the right tax and duty and follow regulations.

What is a commodity code or HS code?

HS Code Structure. It is a six-digit identification code.

HS Code Usage. The HS system is used by over 200 countries and other economies around the world for the collection of international trade statistics,and as a basis for

Maintenance and Classification of HS Code.

Challenges in the Classification of Companies.

What is NIGP Commodity code?

Coding Structure for Standardizing Purchasing and Spend Classification. For over 60 years,the National Institute of Government Purchasing (NIGP) has specialized in developing,supporting,and promoting the public procurement profession.

Extensive Categorization.

Richer Reporting.

What is an international commodity code?

Commodity Codes. A commodity code is a code given to a specific product or a group of products so that it can be identified in international commerce or just commerce in general. Using this code, people can identify the type and nature of the product that has been either imported or exported from anywhere in the world.