The HS Code is widely used in the import and export industries. In reality, people use this code in documents such as customs declarations, bills of lading, certificates of origin, invoices, and so on. Because not everyone understands what is HS code is, let’s learn about HS codes and some HS codes for the Vietnamese furniture industry in the following article.
What is HS code?
First, this is one of the codes we use to distinguish different types of goods. Specifically, the World Customs Organization will provide HS coding to carry out classification work globally.
This goods classification system will aid tax-impregnating units. Along with that, the statistical work of trade related to the import and export of goods is to be served.
The application of this Code also aids in the proper classification of royalties. Countries will use the same product codes, terminology, and customs procedures. When different countries interact, they can understand each other and conduct effective trade negotiations.
Structure of HS code
The structure of HS code includes various parts that are classified as large, medium, or small. There will be Chapters in this section. There will be Groups, then subgroups, and finally subgroups in the chapters.
The section is divided into 21 or 22 sections. For the user’s convenience, each section will be annotated separately. There will be 97 chapters in total. Chapters 98 and 99, in particular, are only about countries. There will be a separate legend in the chapter, and the first two characters will give a general description of the type of goods.
The group section consists of two characters who are divided into groups. Regrouping is a more general word group that also has two characters. The two-letter subheading denotes countries that self-regulate.
What is the HS structure? The first six letters, in particular, are only of an international nature. In the last part, different countries will determine by subgroups themselves.
The unit good classification system will aid the system tax-impregnating. Along with that, the statistical work of trade related to the import and export of goods is to be served.
The application of this Code also aids in the proper classification of royalties. The same product codes, terminology, and customs procedures. When different countries interact, they can understand each other and conduct effective trade negotiations.
The World Customs Organization released the most recent version of this commodity description code system on January 1, 2012. In which 98# of international trade goods have been deciphered. With over 200 countries using the same HS Code system, it promotes the expanding global trade economy.
Common HS codes for import and export furniture
The following is the HS code for furniture and industrial wood:
940350: HS code for bedroom wooden furniture is 940350
940361: HS code for upholstered chairs with wooden frames.
940360: HS code for types of wooden furniture
940190: HS code for products containing seat parts.
940340: HS code for kitchen furniture shampoos.
940390: HS code is for wooden furniture parts.
940490: HS code is for mattress frames and other bedding articles.
940151: HS code for bamboo or rattan furniture, rattan, …
940330: HS code for office furniture.
940389: HS code for bamboo, rattan, or wicker furniture.
Besides, you can find more HS codes hear
In conclusion, we already know what HS code is based on the information provided above. Now, businesses can apply the correct code to open the customs declaration this way. You won’t have to spend much time repeating the declaration when the officer checks you.
Besides, you can see some more procedures for the furniture industry: CERTIFICATE OF ORIGIN In Business
