HS Codes

The hs codes  is a harmonized system codes of tariff nomenclature is a standardized system of names and numbers for classifying traded products. It is used as the basis for applying import duties since it forms the structure for compiling worldwide trade statistics. It can be used as a basis for customs tariffs, Collection of international trade statistics, rules of origin, collection of internal taxes, trade negotiations, risk assessment, information technology, compliance, transport tariffs and statistics, monitoring of controlled goods, etc. There are several web based design solutions for hs code search. The classification process is from submission of the product description to delivery of a final hs tariff classification number with its country specific tariff rates. There are solutions that accurately assign HS commodity codes and identify country specific trade regulations from every product description. Classification error occurs because of complexity, specialized knowledge requirement and manual processing. Harmonized system codes have complex rules and have an extremely complicated structure. Combination of knowledge of the Harmonized system rules and the product is essential to handle how the products are described by their manufactures and distributors and how they are expressed in Harmonized systems. Hs classification is a manual process which consumes more time. The tools that are used do not produce desired results due to the lack of knowledge of the users.