How to Find the Right JKDM HS Code for Your Products
If you are importing or exporting products, you need to know the JKDM HS code for each item. The JKDM HS code is a six-digit number that identifies the product category, subcategory, and specific product. It is used by customs authorities to determine the duties and taxes applicable to your goods. In this article, we will explain what the JKDM HS code is, how to find it, and why it is important for your business.
What is the JKDM HS Code?
The JKDM HS code stands for Jabatan Kastam Diraja Malaysia Harmonized System code. It is based on the international Harmonized System (HS) of tariff nomenclature, which is a standardized system of names and numbers for classifying products. The HS was developed by the World Customs Organization (WCO) and is used by more than 200 countries and territories.
The JKDM HS code consists of six digits, divided into two parts. The first four digits are the HS code, which indicate the product category and subcategory. The last two digits are the Malaysian national subheading, which specify the product further. For example, the JKDM HS code for fresh apples is 0808.10, where 08 is the chapter for edible fruit and nuts, 08 is the heading for apples, pears and quinces, and 10 is the subheading for fresh apples.
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How to Find the JKDM HS Code for Your Products?
There are several ways to find the JKDM HS code for your products. One way is to use the online JKDM HS Code Search tool, which allows you to search by product name or keyword. You can also browse by chapter or section to see the list of headings and subheadings. Another way is to consult the Customs Duties Order 2017, which contains the full list of JKDM HS codes and their corresponding duties and taxes. You can download the PDF file from the official website of the Royal Malaysian Customs Department.
Alternatively, you can contact your supplier or manufacturer to ask for the JKDM HS code of your products. They should have this information as part of their export documentation. You can also hire a customs broker or agent to help you with finding and declaring the correct JKDM HS codes for your products.
Why is the JKDM HS Code Important for Your Business?
The JKDM HS code is important for your business because it affects how much you pay in duties and taxes when importing or exporting products. Different products have different rates of duties and taxes depending on their JKDM HS codes. Some products may be exempt from duties or taxes, while others may be subject to higher rates or additional charges.
The JKDM HS code also helps you comply with the customs regulations and procedures when importing or exporting products. You need to declare the correct JKDM HS codes for your products on your customs declaration forms and invoices. This will help you avoid delays, penalties, or confiscation of your goods by the customs authorities.
The JKDM HS code also helps you identify your target market and competitors when importing or exporting products. You can use the JKDM HS code to analyze the trade statistics and trends of your products in Malaysia and other countries. This will help you understand the demand, supply, price, and quality of your products in different markets.
The JKDM HS code is a six-digit number that identifies your product category, subcategory, and specific product. It is used by customs authorities to determine the duties and taxes applicable to your goods. You can find the JKDM HS code for your products by using online tools, consulting official documents, contacting your supplier or manufacturer, or hiring a customs broker or agent. The JKDM HS code is important for your business because it affects how much you pay in duties and taxes, how you comply with customs regulations and procedures, and how you identify your target market and competitors.
JKDM HS Code: A Brief Overview
JKDM HS Code is a system of classification for goods that are traded internationally. It stands for Jabatan Kastam Diraja Malaysia Harmonized System Code, which is the Malaysian version of the Harmonized Commodity Description and Coding System (HS Code) developed by the World Customs Organization (WCO). The JKDM HS Code consists of 10 digits, where the first six digits are based on the international HS Code, and the last four digits are subdivisions created by the Malaysian customs authority. The JKDM HS Code is used to determine the tariff rates, import and export regulations, trade statistics, and other trade policies for different products.
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Global Demand for JKDM HS Code Industry
The JKDM HS Code industry refers to the sector that provides services related to the classification, declaration, and clearance of goods that are subject to the JKDM HS Code system. This industry includes customs brokers, freight forwarders, logistics providers, consultants, and other intermediaries that facilitate the trade of goods across borders. The global demand for this industry is influenced by several factors, such as:
- The volume and value of international trade, especially between Malaysia and its major trading partners, such as China, Singapore, the United States, Japan, and Thailand.
- The complexity and diversity of products that are traded, which require accurate and updated classification and documentation according to the JKDM HS Code system.
- The level of compliance and enforcement of customs rules and regulations, which affect the risk and cost of doing business across borders.
- The availability and accessibility of information and technology, which enable faster and easier processing and verification of goods subject to the JKDM HS Code system.
According to the World Trade Organization (WTO), the global merchandise trade volume increased by 5.3% in 2021, after a sharp decline of 5.4% in 2020 due to the COVID-19 pandemic. The recovery was driven by strong demand for manufactured goods, especially in Asia and North America. However, the trade outlook remains uncertain due to the persistent challenges posed by the pandemic, such as supply chain disruptions, travel restrictions, and vaccine inequity. The WTO forecasts that the global merchandise trade volume will grow by 4% in 2022, but warns that downside risks remain high.
Based on these trends, it can be inferred that the global demand for the JKDM HS Code industry has also increased in 2021, as more goods are being traded internationally, especially from and to Malaysia. However, the demand may also face some challenges due to the uncertainties and disruptions caused by the pandemic. Therefore, it is important for the JKDM HS Code industry to adapt to the changing trade environment and provide reliable and efficient services to its clients.
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