Understanding HTSUS and Schedule B Code Classifications
Duration: 75 Minutes
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Importers and exporters alike require a firm understanding of the Harmonized Tariff Schedule of the United States (HTSUS) and the Schedule B Code in order to properly apply the rules for classifying their products for import and export. Tariff classifications drive the duty rates that will be applied to imported merchandise, while Schedule B Codes (as well as their HTSUS classification counterparts) are required to be reported in exporters' Electronic Export Information (EEI) filings submitted into the Automated Commercial Environment.
08/02/2017 10:00 AM08/02/2017 04:00 PMTraining Topic: Understanding HTSUS and Schedule B Code ClassificationsInstructor: Grant Smith
Objectives of the Presentation
Learn how to classify goods in the Harmonized Tariff Schedule for import, and the Schedule B for export
Analyze different aspects of the U.S Harmonized Tariff Schedule
Understand the general structure of the HTSUS in detail
Execute the classification of products and objects based on the rules and regulations discovered
Why Should you Attend
This webinar will cover the fundamentals of HTSUS and Schedule B Code classification, and provide proven recommendations for determining accurate product classifications and implementing effective classification strategies. The rules that are required to classify products in the Harmonized Tariff Schedule (HTS) or Schedule B will be discussed. Importers or exporters can be subject to severe penalties if they use incorrect numbers for their imported or exported products. This webinar will assist in helping to minimize errors in classification of products and better prepare companies for import/export audits from the government.
Introduction to and the differences between the HTSUS and Schedule B Code
The Six General Rules of Interpretation (GRIs)
Additional U.S. rule of interpretation
Applying the section and chapter notes of the HTSUS
Using the World Customs Organization's (WCO's) explanatory notes
Binding rulings issued by US customs and border protection and informed compliance publications
Handling special classification issues (Parts, Kits, Sets)
The importance of commerce invoice descriptions
Review the roles of a customs broker, freight forwarder and importer/exporter of record
Determine the difference between duty, user fees, and antidumping/countervailing duties
Best Practices for effective product classification processes
Who will Benefit
Customs and Export Compliance Managers and Personnel
International trade consultants
US and Global Trade Compliance Professionals
Purchasing and Procurement Departments
Supply Chain Professionals
Attorneys and Legal Staff
International Logistics Professional
Sales & Marketing Professionals
Finding the best tariff classification can be complicated, especially in the case of specialized products. In today's complex trading environment, proper tariff classification can depend on a myriad of U.S. and international trade laws, regulations, rulings, and a host of other references. Taking on all sources alone can quickly develop into a massive headache of overpaid duties and improperly classified goods. It stands to reason that a solid, intuitive, and above all else accessible tariff classification solution is the remedy you need.
Correct, consistent, legally defensible tariff classifications are at the heart of import compliance. You are responsible for ensuring that proper HTS tariff classifications are used for all your imports, and Schedule B codes for your exports. You can't afford tariff classification mistakes and inconsistencies resulting from a lack of systemic controls over tariff classification procedures.
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