What is HS Code Indonesia?
Indonesia HS classification Well, it stands on Harmonized System Code that is used to classify a product in import export business. This code includes internationally HS numbers and standardized names for defining every category of the products.
What is the meaning of HS Code in shipping?
Harmonized System
The “Harmonized System (HS)” was created and is administered by the Brussels-based World Customs Organization (WCO). It consists of numerical codes that allow the systematic definition and classification of all goods in international trade, within the tariffs of signatory countries.
What is the import duty in Indonesia?
Duty rates in Indonesia vary from 0% to 40%, with the average duty rate at 10.89%. Some products can be imported free of duty (e.g. books, laptops, and other electronic products). VAT is levied on imports at a standard rate of 10%, or at a reduced rate between 0% and 5% calculated on the sum of the CIF value and duty.
What is HS Code in import?
The US code is called a Schedule B number for export goods and a Harmonised Tariff Schedule (HTS) code for import goods. Similarly, in India, goods for export and import have an eight-digit code called an ITC (HS) code, where ITC stands for Indian Trade Classification and/or Indian Tariff Code.
Is HS Code and tariff code the same?
The Harmonized Tariff Schedule code is a 10-digit import classification system that is specific to the United States. An HTS code takes the same form as an HS code for the first six digits, and then has four differing last digits.
What HS mean?
Slang / Jargon (32) Acronym. Definition. HS. High School.
Does Indonesia have high tariffs?
Indonesia has a simple average bound tariff rate of 37 percent across products, which is much higher than its average applied tariff (see above).
What is the duty free allowance for Indonesia?
Indonesia duty free The following goods may be imported into Indonesia by travellers over 18 years of age without incurring customs duty: 200 cigarettes or 25 cigars or 100g of tobacco. 1L of alcoholic beverages. Gifts up to a value of US$250 per person or US$1,000 per family.