When it comes to the world of clocks, there is a specific HS code that is used to classify a particular type of product - HS Code 91109040. This code is assigned to incomplete clock movements consisting of 2 or more pieces or parts that are fastened or joined together. In this article, we will explore this HS code in detail and understand its implications.
Firstly, let us delve deeper into the product description of HS Code 91109040. It refers to the partial or incomplete clock movements that are not yet fully assembled. These movements may consist of various pieces or parts that are required to complete the clock mechanism. It is important to note that these parts are fastened or joined together, indicating that they are not loose components.
Now, let us discuss the bound / MFN duty rate associated with HS Code 91109040. The duty rate for this code is 4.3% plus 1.7 cents per jewel and an additional 0.2 cents for each other piece or part. However, if the incomplete clock movement consists of a plate or a set of plates, the total duty shall not exceed the duty for the complete movement. This means that the duty rate may vary depending on the specific components and their arrangement within the clock movement.
Furthermore, it is essential to understand that various special tariff preference programs are applicable to imports falling under HS Code 91109040. These programs provide certain benefits and exemptions to eligible countries. Some of the programs include:
These special tariff preference programs aim to promote trade and provide advantages to specific countries or regions based on their trade agreements or development status.
In terms of quantity unit, the number (NO) is used to measure the quantity of incomplete clock movements imported or exported under HS Code 91109040. This unit signifies the count of individual movements or sets of movements being traded.
It is important to note that HS Code 91109040 is applicable for both importing and exporting US states. This means that incomplete clock movements falling under this HS code can be traded between different states within the United States as well as with other countries.
HS Code 91109040 is specifically assigned to incomplete clock movements consisting of 2 or more pieces or parts that are fastened or joined together. This code carries a bound / MFN duty rate and is eligible for various special tariff preference programs. Understanding this HS code is crucial for importers, exporters, and traders in the clock industry to ensure compliance and take advantage of applicable benefits and exemptions.