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Schedule B and HS code

Articles of Stone, Plaster, Asbestos, Mica, etc
From India
To United States of America
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Oct 09, 2020

Is Schedule B and HS Code the same?

1 answer

Oct 09, 2020

Not at all. The Schedule B code refers to a coding system administered by the Foreign Trade Division in the US census bureau.

It is specifically used in the US to monitor a wide range of exports.

Typically, the B code has a total of ten digits, the first six making up the HS codes.

The extra four digits are essential in identifying and classifying the goods.

On the other hand, the HS code refers to a six-digit standard, commonly known as subheading used in the classification of goods for taxes and duties.

The HS numbers are constant across the globe and are administered by the World Customs Organization.

However, the B code is used solely in the US and administered by a body known as Census Bureau’s Foreign Trade Division for export statistics.

Another difference is for schedule B codes must be reported to shipments valued at more than $2500, or when consignment requires an export license.

HS codes, on the other hand, are used mostly in commercial invoices and other international export documentation.

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