HS Code 30045020: Medicaments Containing Vitamin B12
Medicaments containing vitamin B12 synthesized from aromatic or mod. aromatic compounds, in dosage form or packed for retail, fall under HS Code 30045020. This code is used to classify and regulate the import and export of these specific products. In this article, we will explore the details of this HS code, its product description, duty rates, quantity units, and any special tariff preference programs associated with it.
Product Description:
Medicaments containing vitamin B12 synthesized from aromatic or mod. aromatic compounds, in dosage form or packed for retail, are pharmaceutical products that contain vitamin B12 as a key ingredient. Vitamin B12 is an essential nutrient that plays a crucial role in the production of red blood cells and the maintenance of a healthy nervous system. These medicaments are formulated to provide a convenient and standardized dosage of vitamin B12 for therapeutic or dietary purposes.
Bound / MFN Duty Rate:
The bound duty rate for products classified under HS Code 30045020 is free. This means that there are no customs duties imposed on these products when they are imported or exported. This holds true regardless of the country from which they are sourced or to which they are being traded. The principle of non-discrimination, as outlined by the World Trade Organization (WTO), ensures that countries must provide the same treatment to all trading partners when it comes to trade barriers and market access for goods and services.
Quantity Unit:
The quantity unit for measuring the import or export of medicaments containing vitamin B12 under HS Code 30045020 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the volume of goods being traded.
Special Tariff Preference Programs:
Special tariff preference programs are trade agreements or arrangements between countries that provide preferential treatment to certain products. These programs aim to promote trade and economic cooperation between participating countries. However, as of the current available information, there are no specific special tariff preference programs associated with HS Code 30045020.
Importing US States:
Medicaments containing vitamin B12 under HS Code 30045020 can be imported into any state within the United States. The import regulations and requirements for these products may vary slightly between states, but the overall classification and tariff treatment remain the same.
Exporting US States:
Similarly, these medicaments can be exported from any state within the United States to other countries. Export procedures and documentation may differ based on the specific requirements of the destination country, but the HS code remains consistent for the classification of the product.
HS Code 30045020 is used to classify and regulate the import and export of medicaments containing vitamin B12 synthesized from aromatic or mod. aromatic compounds, in dosage form or packed for retail. The bound duty rate for these products is free, and the quantity unit used is kilograms (KG). Although there are no specific special tariff preference programs associated with this code, the principles of non-discrimination ensure equal treatment for all trading partners. Importing and exporting of these products can take place across all US states.
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