The harmonized system code is a 10 digitals numeral system used internationally for the classification of products. It is a trade nomenclature used globally among 200 participatory countries which were the members of the world customs organization.
The history of the HS code date back from the 1970s when the 'world customs organization' developed a global trade language called the 'HS code’. The code came into force in 1988 forming an international HS codes list including the HS code Indonesia, HS code China, HS code Mexico, and HS code Peru.
HS code search for the major trading countries -
Country-specific HS code is needed to collect trade data, control the import-export, and determine import duties and more. All these HS codes help to understand the economic market and in future goods movement.
The wrong HS code search will result in the use of incorrect HS code, creating problems during the customs clearance, which in-turn cause’s damage to both money and time. This mistake could also make an individual pay too much in tax or too little, which in the worst case be treated as a serious crime calling it tax evasion.
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