HTS - Harmonised Tariff Schedule
What is
HTS is the Harmonised Tariff Schedule, used by Customs wold wide where the first 4 numbers are universal and decide the duty rate when goods enter the country.
The aim of the report is to illustrate per trade tonnage any tariffs and any freight cost element. All value calculations are expressed in the Entity Report Currency.
The report lists selected (filter applied) Purchase Trades that are not Brokerage, nor Internal, nor 3rd Party/Consignment. The report comprises 2 sections, the good trade data that locates a single/suitable Tariff rate and the Exception report where no tariff rate has been located or multiple tariff rates were located.
TRADE data used :-
1. Contract terms
2. Shipping Weight Code, to determine if TRADE tonnage is Nett or Gross
3. Any Freight Cost. Recognition of the Freight Cost is the Cost code is nominated accordingly.
4. Tonnage
5. Price/value/currency
The location of the appropriate tariff is basis the Classification table that will usually be oriented to Commodity/Product codes but other criteria (primarily basis Ferrous trading) can be applied.
When these tables are complete, a report can be executed to filter TRADE data, based on user selections, which will list the TRADEs with their respective HTS codes and extended Tariff values.
The HTS code is format XXXX.XX.XX. Examples are 7208.26.00 – Iron /non-alloy steel , width 600mm+, hot rolled flat-rolled, in coils width/thick 3mm or more but less 4.75mm, pickled, not clad/plated. All the measurements are expressed/maintained in mm. HTSUS will maintain the definition of the above in ITAS terms i.e. the Classification table.
The report will list the selected Purchase TRADE data with the assigned HTS number, various TRADE fields, net and gross weights, contract and invoice values and the calculated duty, using the appropriate rate. An exception report can be selected, where TRADE data that can not be related to a HTS number is listed. Also in this exception list are data items where the HTS classification data has been setup to provide more than 1 HTS reference for a TRADE record. If the TRADE unit is not mm, the conversion value applied will be 1 inch = 2.54 cm and the rounding applied will be 2 decimal places.
Technical: A60.exe, cmy61, cmy62