BloomTech’s Downfall: A Long Time Coming

Class Central is learner-supported. When you buy through links on our site, we may earn an affiliate commission.

Coursera

Classification and valuation - What you must know!

PwC via Coursera

Go to class Write review

Overview

Class Central Tips
This is the second course in Tax Academy's Customs Certification. This certification would provide you with relevant skills to apply Customs knowledge in less than two months. In this course, you will build upon your knowledge on legal principles of classification and valuation of goods. Once you are able to correctly classify and declare the value of goods, you will be able to take accurate decisions about Customs duty payment and ascertain other compliance requirements. Correct classification and valuation is also important for GST-related disclosures, and consistency under the two laws is necessary from a compliance standpoint. Learners who complete this certification can gain the skills required to apply to introductory job positions in the industry or consultancies.

Syllabus

  • Classification
    • Each product that is imported/ exported from India is to be classified under India's Customs Tariff for the correct application of duties and necessary approval/ licenses, if any. India's Customs Tariff classifies goods at an unique eight-digit tariff code, and there is a series of steps, principles and sources that one needs to refer to in order to correctly classify goods. In this module, we will explain the accepted principles of classification in India and how it is aligned with the World Customs Organization or WCO framework. We will also demonstrate some complex case-studies to explain the practical application of these principles in view of advancement in technology, dynamic nature of products and the statutory references.
  • Valuation
    • In this part of the module, we shall explore the legal concepts, valuation principles that are accepted under Custom laws of India, nuances of related party transactions and the complexities of business scenarios under the lens of statutory provisions.

Taught by

Tax Academy

Tags

Reviews

Start your review of Classification and valuation - What you must know!

Go to class

Never Stop Learning.

Get personalized course recommendations, track subjects and courses with reminders, and more.

Sign up for free
Someone learning on their laptop while sitting on the floor.