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General Rules For The Interpretation Of The Harmonized System
{{no footnotes, date=June 2016 The General Rules for the Interpretation of the Harmonized System ("GRI") are the rules that govern the classification of goods under the Harmonized Commodity Description and Coding System The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has ... (HS). Application There are 6 General Rules in all, which must be applied in consecutive order. # GRI 1 prescribes how to classify products at the 4-digit Heading level, based on the wording of the headings and the relative HS Section and Chapter Notes. # GRI 2 prescribes how to classify both incomplete and unassembled goods, and mixtures and combinations of goods. # GRI 3 prescribes how to classify products that are, prima facie, classifiable under two different HS headings. # GRI 4 prescribes how to classify prod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harmonized System
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with over 200 member countries. Structure The HS is organized logically by economic activity or component material. For example, animals and animal products are found in one section of the HS, while machinery and mechanical appliances are found in another. The HS is organized into 21 sections, which are subdivided into 99 chapters. The 99 HS chapters are further subdivided into 1,244 headings and 5224 subheadings. Section and Chapter titles describe broad categories of goods, while headings and subheadings describe products in more detail. Genera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade And Industrial Classification Systems
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services, i.e. trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and letter of credit, paper money, and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. In one modern view, trade exists due to specialization and the division of labour, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
