TariffTel - How incorrect HS codes are driving up costs (and . . . A single incorrect digit can result in: – Overpaying duties: Misclassifying goods into a higher tariff bracket can leave businesses paying thousands more in import costs – Underpaying (and facing penalties): Underclassify goods, and you risk fines, audits, or costly back-payments when customs authorities spot the error
7 Common Customs Declaration Mistakes How to Avoid Them . . . Using the wrong HS code can lead to incorrect duty payments, fines, and even shipment seizures Customs authorities rely on these codes to determine tariffs and regulatory requirements, so any misclassification can cause delays
HTS, HSN Codes, and Schedule B: Common Mistakes to Avoid - DHL This guide will help you understand how to import goods through customs, including the proper use of Harmonised Tariff Schedule (HTS), Schedule B and the Harmonised System (HS) or HSN codes, so that there are no hold ups or delays when it comes to shipments getting into your hands
What can go wrong when HS codes are incorrect? - Avalara For declaring incorrect or evasive HS code information, the National Board of Revenue (NBR) has increased the fine to a maximum of Tk 100,000 from Tk 50,000 Choosing the correct code for your product with what you have to consider
7 Common Custom Clearance Problems And How To Efficiently . . . The most common customs clearance problems include inaccurate documentation, incorrect HS codes, higher-than-expected duties, compliance issues, delays due to customs inspections, unclear Incoterms, improper packaging and labelling, and peak-season congestion
Decoding HSN Codes: The Key to Profitable Global Exports Using the right HSN code impacts multiple areas of business: Customs Clearance – Wrong codes can lead to delays, rejections, and financial penalties Duties Taxation – Import export taxes and