General Rules of Interpretation (GRI) are the rules for determining the appropriate commodity code of a product. The accurate classification of a product requires a sound understanding of these rules. These rules have legal values and are usually part of Customs legislation around the world. As Customs classification remains to biggest area of dispute with Customs authorities and is part of the business Customs compliance obligations, this article explains the principles behind the rules and how to apply them.
Customs classification is the process of assigning a specific code from a nomenclature to a product or commodity for the purpose of customs clearance. This Quick Guide introduces Classification, the area of customs management that is the most subject to dispute. Contrary to local or domestic trade, in international transactions the buyer and the sellerContinue reading “A Quick Guide to Customs Classification”