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Tax Academy
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.
Read more
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.
Read more
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.
Register for this course and see more details by visiting:
OpenCourser.com/course/an8exs/classification
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What's inside
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.
Read more
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.
Read more
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.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Taught by Tax Academy, who are recognized for their work in customs certifications
Explores legal principles of classification and valuation of goods, relevant in customs industries
Strengthens existing foundation for intermediate custom professionals by giving accurate insights into Custom duty payment and compliance
Could be a starting point for intermediate professionals looking to gain practical experience in classification and valuation of goods
May not be comprehensive for beginners, as it builds on basic knowledge of customs laws and procedures
It may be beneficial for individuals in advisory and consulting roles in customs brokerage, freight forwarding, or related fields
Save this course
Save Classification and valuation - What you must know! to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Classification and valuation - What you must know! with these
activities:
Review notes from an introductory course on international trade
Show steps
Refresh your knowledge of important international trade concepts to strengthen the foundation for your coursework.
Browse courses on
International Business
Show steps
-
Review your notes from any previous coursework on international trade, focusing on key concepts such as tariffs, trade agreements, and exchange rates.
-
Take notes on the concepts and make flashcards to help you remember them.
-
Consult textbooks or online resources to supplement your understanding.
Review classification principles
Show steps
Reviewing the core principles of classification will prepare you for success in this course by building a strong foundation.
Browse courses on
Classification
Show steps
-
Read the online materials on classification.
-
Review the India's Customs Tariff document.
Join a study group or participate in online discussion forums
Show steps
Engage with other students and professionals to exchange knowledge, clarify concepts, and gain diverse perspectives on customs-related topics.
Show steps
-
Join a study group or online discussion forum dedicated to customs regulations or international trade.
-
Actively participate in discussions, ask questions, and share your insights.
-
Collaborate with other members to complete assignments or projects.
-
Use the group or forum as a platform for continuous learning and knowledge sharing.
12 other activities
Expand to see all activities and additional details
Show all 15 activities
Practice classifying goods
Show steps
This activity will help you solidify your understanding of classification principles and improve your ability to apply them to real-world scenarios.
Browse courses on
Classification
Show steps
-
Gather a list of goods imported into India.
-
Classify each good according to the India's Customs Tariff.
-
Check your answers against a reference source.
Practice calculating customs duties and taxes
Show steps
Reinforce your understanding of customs regulations by practicing the calculation of duties and taxes on imported goods.
Browse courses on
Customs
Show steps
-
Find a practice exercise or online tool that provides sample scenarios for calculating customs duties and taxes.
-
Attempt to solve the exercises or use the tool to calculate the duties and taxes owed.
-
Check your answers against the provided solutions or consult customs regulations to ensure accuracy.
-
Repeat the exercises until you feel confident in your ability to calculate customs duties and taxes.
Case study discussions
Show steps
Discussing case studies with peers can provide valuable insights and help you see the practical application of classification and valuation principles.
Browse courses on
Classification
Show steps
-
Form a study group with classmates.
-
Select a case study to discuss.
-
Prepare your analysis of the case.
Valuation exercises
Show steps
Valuation is one of the most complex topics in customs law. These exercises will help you build confidence and improve your understanding of the key concepts.
Browse courses on
Valuation
Show steps
-
Solve valuation exercises from textbooks or online resources.
-
Participate in mock valuation assessments.
-
Review and analyze real-world valuation cases.
Classification Report
Show steps
Enhance your comprehension of classification procedures by developing a detailed report on the classification of a specific product.
Show steps
-
Select a product and conduct thorough research on its characteristics.
-
Identify the applicable HS Code and provide justification for your choice.
-
Analyze the implications of the classification for Customs duty payment and other regulatory requirements.
Develop a case study analysis on a specific customs-related issue
Show steps
Apply your knowledge of customs regulations to a real-world scenario by conducting a case study analysis.
Browse courses on
Case study
Show steps
-
Identify a specific customs-related issue or case that you find interesting or relevant to your field of study.
-
Research the issue thoroughly, including applicable laws, regulations, and industry practices.
-
Develop a case study analysis that outlines the issue, analyzes the relevant factors, and provides potential solutions or recommendations.
-
Present your case study analysis in a written report or presentation format.
Volunteer with a customs organization
Show steps
Volunteering with a customs organization can provide you with hands-on experience and a deeper understanding of the day-to-day operations of customs administration.
Browse courses on
Customs
Show steps
-
Identify customs organizations in your area that accept volunteers.
-
Contact the organization and inquire about volunteer opportunities.
-
Attend a training session and learn about the organization's procedures.
Write a short report on classification
Show steps
Writing a report will help you synthesize your understanding of classification principles and demonstrate your ability to apply them to a specific topic.
Browse courses on
Classification
Show steps
-
Choose a topic related to classification.
-
Research the topic and gather information.
-
Write a report that discusses your findings.
Attend Customs Industry Conference
Show steps
Expand your professional network and gain insights into the latest trends in the Customs industry by attending a relevant conference.
Show steps
-
Identify and register for an upcoming Customs industry conference.
-
Attend the conference sessions and actively engage in discussions.
-
Network with professionals in the field to exchange knowledge and explore potential opportunities.
Attend a customs workshop
Show steps
Workshops are a great way to learn from experts in the field and gain insights into the latest trends in customs administration.
Browse courses on
Classification
Show steps
-
Search for customs workshops in your area.
-
Register for a workshop that interests you.
-
Attend the workshop and participate in the discussions.
Practical Customs Valuation Workshop
Show steps
Develop practical skills in Customs valuation through a hands-on workshop, enhancing your ability to apply principles effectively.
Show steps
-
Enroll in a practical Customs valuation workshop conducted by experienced professionals.
-
Participate actively in the workshop exercises and discussions.
-
Apply the learned techniques to case studies and real-world scenarios.
Contribute to the development of customs software
Show steps
Getting involved in open-source customs software projects can help you gain hands-on experience and deepen your understanding of the field.
Browse courses on
Classification
Show steps
-
Identify an open-source customs software project that interests you.
-
Review the project documentation and make contributions.
-
Collaborate with other developers on the project.
Review notes from an introductory course on international trade
Show steps
Refresh your knowledge of important international trade concepts to strengthen the foundation for your coursework.
Browse courses on
International Business
Show steps
Show steps
Show steps
- Review your notes from any previous coursework on international trade, focusing on key concepts such as tariffs, trade agreements, and exchange rates.
- Take notes on the concepts and make flashcards to help you remember them.
- Consult textbooks or online resources to supplement your understanding.
Review classification principles
Show steps
Reviewing the core principles of classification will prepare you for success in this course by building a strong foundation.
Browse courses on
Classification
Show steps
Show steps
Show steps
- Read the online materials on classification.
- Review the India's Customs Tariff document.
Join a study group or participate in online discussion forums
Show steps
Engage with other students and professionals to exchange knowledge, clarify concepts, and gain diverse perspectives on customs-related topics.
Show steps
Show steps
Show steps
- Join a study group or online discussion forum dedicated to customs regulations or international trade.
- Actively participate in discussions, ask questions, and share your insights.
- Collaborate with other members to complete assignments or projects.
- Use the group or forum as a platform for continuous learning and knowledge sharing.
12 other activities
Expand to see all activities and additional details
Show all 15 activities
Practice classifying goods
Show steps
This activity will help you solidify your understanding of classification principles and improve your ability to apply them to real-world scenarios.
Browse courses on
Classification
Show steps
Show steps
Show steps
- Gather a list of goods imported into India.
- Classify each good according to the India's Customs Tariff.
- Check your answers against a reference source.
Practice calculating customs duties and taxes
Show steps
Reinforce your understanding of customs regulations by practicing the calculation of duties and taxes on imported goods.
Browse courses on
Customs
Show steps
Show steps
Show steps
- Find a practice exercise or online tool that provides sample scenarios for calculating customs duties and taxes.
- Attempt to solve the exercises or use the tool to calculate the duties and taxes owed.
- Check your answers against the provided solutions or consult customs regulations to ensure accuracy.
- Repeat the exercises until you feel confident in your ability to calculate customs duties and taxes.
Case study discussions
Show steps
Discussing case studies with peers can provide valuable insights and help you see the practical application of classification and valuation principles.
Browse courses on
Classification
Show steps
Show steps
Show steps
- Form a study group with classmates.
- Select a case study to discuss.
- Prepare your analysis of the case.
Valuation exercises
Show steps
Valuation is one of the most complex topics in customs law. These exercises will help you build confidence and improve your understanding of the key concepts.
Browse courses on
Valuation
Show steps
Show steps
Show steps
- Solve valuation exercises from textbooks or online resources.
- Participate in mock valuation assessments.
- Review and analyze real-world valuation cases.
Classification Report
Show steps
Enhance your comprehension of classification procedures by developing a detailed report on the classification of a specific product.
Show steps
Show steps
Show steps
- Select a product and conduct thorough research on its characteristics.
- Identify the applicable HS Code and provide justification for your choice.
- Analyze the implications of the classification for Customs duty payment and other regulatory requirements.
Develop a case study analysis on a specific customs-related issue
Show steps
Apply your knowledge of customs regulations to a real-world scenario by conducting a case study analysis.
Browse courses on
Case study
Show steps
Show steps
Show steps
- Identify a specific customs-related issue or case that you find interesting or relevant to your field of study.
- Research the issue thoroughly, including applicable laws, regulations, and industry practices.
- Develop a case study analysis that outlines the issue, analyzes the relevant factors, and provides potential solutions or recommendations.
- Present your case study analysis in a written report or presentation format.
Volunteer with a customs organization
Show steps
Volunteering with a customs organization can provide you with hands-on experience and a deeper understanding of the day-to-day operations of customs administration.
Browse courses on
Customs
Show steps
Show steps
Show steps
- Identify customs organizations in your area that accept volunteers.
- Contact the organization and inquire about volunteer opportunities.
- Attend a training session and learn about the organization's procedures.
Write a short report on classification
Show steps
Writing a report will help you synthesize your understanding of classification principles and demonstrate your ability to apply them to a specific topic.
Browse courses on
Classification
Show steps
Show steps
Show steps
- Choose a topic related to classification.
- Research the topic and gather information.
- Write a report that discusses your findings.
Attend Customs Industry Conference
Show steps
Expand your professional network and gain insights into the latest trends in the Customs industry by attending a relevant conference.
Show steps
Show steps
Show steps
- Identify and register for an upcoming Customs industry conference.
- Attend the conference sessions and actively engage in discussions.
- Network with professionals in the field to exchange knowledge and explore potential opportunities.
Attend a customs workshop
Show steps
Workshops are a great way to learn from experts in the field and gain insights into the latest trends in customs administration.
Browse courses on
Classification
Show steps
Show steps
Show steps
- Search for customs workshops in your area.
- Register for a workshop that interests you.
- Attend the workshop and participate in the discussions.
Practical Customs Valuation Workshop
Show steps
Develop practical skills in Customs valuation through a hands-on workshop, enhancing your ability to apply principles effectively.
Show steps
Show steps
Show steps
- Enroll in a practical Customs valuation workshop conducted by experienced professionals.
- Participate actively in the workshop exercises and discussions.
- Apply the learned techniques to case studies and real-world scenarios.
Contribute to the development of customs software
Show steps
Getting involved in open-source customs software projects can help you gain hands-on experience and deepen your understanding of the field.
Browse courses on
Classification
Show steps
Show steps
Show steps
- Identify an open-source customs software project that interests you.
- Review the project documentation and make contributions.
- Collaborate with other developers on the project.
Career center
Learners who complete Classification and valuation - What you must know! will develop knowledge and skills
that may be useful to these careers:
Customs Broker
Customs Broker
Customs Brokers help their clients classify and value goods for import and export. They prepare and file the necessary paperwork with the customs authorities and calculate the duties and taxes that are owed. A deeper understanding of the Customs Tariff and valuation principles is essential for the day-to-day responsibilities of a Customs Broker. PwC India's Classification and Valuation course can help you to gain the skills and knowledge you need to succeed in this field.
Customs Agent
Customs Agent
Customs Agents represent importers and exporters before the customs authorities. They prepare and file the necessary paperwork and calculate the duties and taxes that are owed. A deep understanding of the Customs Tariff and valuation principles is essential for Customs Agents. This course will help you to gain the skills and knowledge you need to succeed in this field.
Tariff Analyst
Tariff Analyst
Tariff Analysts are responsible for classifying goods under the Harmonized System (HS) tariff code. They also provide advice on the application of customs duties and taxes. A deep understanding of the HS tariff code and valuation principles is essential for Tariff Analysts. This course will help you to gain the skills and knowledge you need to succeed in this field.
Trade Consultant
Trade Consultant
Trade Consultants advise clients on international trade matters, including customs regulations. They also help clients develop and implement strategies for importing and exporting goods and services. A strong understanding of customs regulations is essential for Trade Consultants. This course will help you to gain the knowledge and skills you need to succeed in this role.
International Trade Specialist
International Trade Specialist
International Trade Specialists are responsible for developing and implementing strategies for importing and exporting goods and services. They also advise clients on the best way to comply with customs regulations. This course will help you to build a foundation in the legal principles of classification and valuation of goods, which are essential for success in this role.
Trade Compliance Analyst
Trade Compliance Analyst
Trade Compliance Analysts ensure that their companies comply with all applicable customs regulations. They also advise on the best way to mitigate risks associated with international trade. A strong understanding of customs regulations is essential for Trade Compliance Analysts. This course will help you to gain the knowledge and skills you need to succeed in this role.
Customs Auditor
Customs Auditor
Customs Auditors review the records of importers and exporters to ensure that they are complying with all applicable customs regulations. They also conduct investigations to identify and prevent fraud. A strong understanding of customs regulations is essential for Customs Auditors. This course will help you to gain the knowledge and skills you need to succeed in this role.
Logistics Manager
Logistics Manager
Logistics Managers plan and coordinate the movement of goods and materials. They also oversee the storage and distribution of goods. A strong understanding of customs regulations is essential for Logistics Managers who work with international shipments. This course will help you to gain the knowledge and skills you need to succeed in this role.
Tax Attorney
Tax Attorney
Tax Attorneys advise clients on tax matters, including customs duties and taxes. They also represent clients in tax audits and disputes. A strong understanding of customs regulations is essential for Tax Attorneys who work with international clients. This course will help you to gain the knowledge and skills you need to succeed in this field.
Supply Chain Manager
Supply Chain Manager
Supply Chain Managers oversee the entire supply chain process, from the sourcing of raw materials to the delivery of finished goods to customers. They also manage the flow of information and資金throughout the supply chain. A strong understanding of customs regulations is essential for Supply Chain Managers who work with international shipments. This course will help you to gain the knowledge and skills you need to succeed in this role.
Procurement Manager
Procurement Manager
Procurement Managers may be responsible for sourcing goods and services from international suppliers. They may also be responsible for negotiating contracts and ensuring that their company complies with all applicable customs regulations. A basic understanding of customs regulations can be helpful for Procurement Managers who work with international suppliers. This course may be useful for Procurement Managers who want to learn more about customs regulations.
Operations Manager
Operations Manager
Operations Managers may be responsible for overseeing the import and export of goods. They may also be responsible for ensuring that their company complies with all applicable customs regulations. A basic understanding of customs regulations can be helpful for Operations Managers who work with international shipments. This course may be useful for Operations Managers who want to learn more about customs regulations.
Sales Manager
Sales Manager
Sales Managers may be responsible for selling goods and services to international customers. They may also be responsible for negotiating contracts and ensuring that their company complies with all applicable customs regulations. A basic understanding of customs regulations can be helpful for Sales Managers who work with international customers. This course may be useful for Sales Managers who want to learn more about customs regulations.
Financial Analyst
Financial Analyst
Financial Analysts may be involved in evaluating the financial implications of customs duties and taxes. They may also advise clients on how to minimize their tax liability. A basic understanding of customs regulations can be helpful for Financial Analysts who work with international clients. This course may be useful for Financial Analysts who want to learn more about customs regulations.
Marketing Manager
Marketing Manager
Marketing Managers may be responsible for developing and implementing marketing campaigns that target international customers. They may also be responsible for ensuring that their company complies with all applicable customs regulations. A basic understanding of customs regulations can be helpful for Marketing Managers who work with international customers. This course may be useful for Marketing Managers who want to learn more about customs regulations.
For more career information including salaries, visit:
OpenCourser.com/course/an8exs/classification
Reading list
We've selected 11 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Classification and valuation - What you must know!.
This international convention provides the basis for the classification of goods worldwide, including in India.
This report provides guidance on the application of transfer pricing principles in the valuation of goods for customs purposes.
This guide provides a basic overview of the principles and practices of customs valuation.
Save
Contains the text of the WTO Agreements on Trade in Goods, which include important provisions on customs classification and valuation.
This publication provides practical guidance on the application of transfer pricing principles in customs valuation.
Provides a detailed explanation of the World Customs Organization's rules on the classification and valuation of goods.
This agreement sets out the international rules for the valuation of goods for customs purposes.
Provides a comprehensive guide to the Indian Customs procedures and regulations, including information on classification and valuation.
Save
This textbook provides a comprehensive overview of international trade law, including the valuation of goods for customs purposes.
Save
Provides a detailed discussion of the Customs and Excise laws in India.
Provides a practical guide to the application of transfer pricing principles in customs valuation.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/an8exs/classification
Share
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Effort
2 weeks of study, 3 hours/week
Level
Introductory
Via
Coursera
Institution
PwC India
Instructor
Tax Academy
Language
English
Transcript
tiếng Việt
This course belongs to a
collection
called
India Customs and Allied laws. It's comprised of three courses:
- Free Trade Agreements and Special Economic Zones
- Introduction to Customs and Foreign Trade Policy
- Classification and valuation - What you must know! (viewing)
Good to know
Taught by Tax Academy, who are recognized for their work in customs certifications
Explores legal principles of classification and valuation of goods, relevant in customs industries
Strengthens existing foundation for intermediate custom professionals by giving accurate insights into Custom duty payment and compliance
Could be a starting point for intermediate professionals looking to gain practical experience in classification and valuation of goods
May not be comprehensive for beginners, as it builds on basic knowledge of customs laws and procedures
It may be beneficial for individuals in advisory and consulting roles in customs brokerage, freight forwarding, or related fields
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