Inositols are a type of sugar alcohol that are commonly used in the food and pharmaceutical industries. They have a variety of applications, including as a sweetener, a nutrient supplement, and a stabilizer in various products. In this article, we will explore the details of HS Code 29061310, which specifically covers inositols.
HS Code 29061310 is the international code used to classify and identify inositols in trade. It is a specific code that allows customs authorities and traders to easily categorize and track the import and export of inositols. By using this code, countries can ensure that the same regulations and duties are applied to inositols regardless of their origin.
The Bound / MFN duty rate for inositols is free. This means that no duty is imposed on the import or export of inositols. This is in line with the principle of Most Favored Nation (MFN) treatment, which states that a country must apply the same trade regulations to all its trading partners. Therefore, whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
The quantity unit for inositols is kilograms (KG). This is the standard unit of measurement used in international trade to quantify the amount of inositols being imported or exported. It allows for easy comparison and tracking of trade volumes.
There are also special tariff preference programs that apply to inositols. These programs provide certain countries with preferential treatment in terms of duty rates. The following countries are eligible for duty-free treatment under HS Code 29061310:
These countries enjoy duty-free treatment when importing or exporting inositols under HS Code 29061310. It is important for traders to be aware of these special tariff preference programs as they can have a significant impact on the cost and competitiveness of their products.
HS Code 29061310 is the specific code used to classify and identify inositols in international trade. It allows for easy categorization, regulation, and tracking of inositols. The Bound / MFN duty rate for inositols is free, and there are also special tariff preference programs that provide certain countries with duty-free treatment. Traders should be aware of these regulations and programs to ensure compliance and take advantage of any benefits they may offer.