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Harmonized System Codes - Jewelery Industry

The Harmonized System of Codes, also known as the Harmonized Commodity Description Coding system (HS or sometimes HS Codes), was developed by the World Customs Organisation (WCO). The World Customs Organization (WCO) is an intergovernmental organisation exclusively focused on Customs matters and on developing world standards. The WCO also maintains the international Harmonized System goods nomenclature, and administers the technical aspects of the WTO Agreements on Customs Valuation and Rules of Origin. It is based in Brussels, Belgium.

The Harmonized System consists of around 5,000 commodity groups; each identified by a six digit code, arranged in a legal and logical structure and is supported by well-defined rules to achieve uniform classification. The system is used by more than 200 countries and economies as a basis for their Customs tariffs and for the collection of international trade statistics. Over 98 % of the merchandise in international trade is classified in terms of the HS.

Jewelery Industry
The first 4 digits of the HS CODES (also known as the heading) is used for some of the items used in the jewelery industry. These are:

Natural or cultured pearls : 71.01
Rough or cut and polished diamonds : 71.02
Precious and semi-precious stones :71.03
Synthetic gemstones : 71.04
Diamond powder :71.05
Silver :71.06
Metal clad with silver :71.07
Gold :71.08
Metal clad with gold :71.09
Platinum : 71.10
Metal clad with platinum : 71.11
Scrap precious metal : 71.12
Jewellery findings : 71.13
Imitation jewellery findings : 71.14
Other articles of precious metal : 71.15
Jewellery set with pearls or gemstones :71.16
Imitation Jewellery :71.17
Gold coins: 71.18
Tools used in the jewellery industry : 84.56
Tools used in the lapidary industry
Jewellery box : 42.02

Some important uses of HS Codes include:
i) Custom tariffs
ii) Collection of internal taxes
iii)Rules of origin
iv)Collection of international trade statistics
v) Used in transport tariffs and statistics
vi) Trade negotiations between countries. eg Tariff concessions
vi) Very useful in the monitoring of controlled goods such as chemicals that deplete the ozone layer and endangered species

It is important to note that the codes have been revised over the years, so it is a good idea to cross check the definitions and codes to check for matches, especially when reviewing recent data.


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