What you'll learn

Learn how to read Customs Tariff and other statutory references used for determining classification.
Correctly apply all the steps involved in classification in sync with the accepted principles of classification.
Determine the value of the transaction on which Customs duty needs to be paid.
Evaluate complexities around related party transactions.

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Assessments

3 assignments

Taught in English

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This course is part of the India Customs and Allied laws Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 2 modules in this course

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.

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.

What's included

6 videos14 readings2 assignments

6 videosTotal 50 minutes

Introduction to the module1 minutePreview module
Overview of customs classification9 minutes
Different aids and principles to classification15 minutes
General Rules of Interpretation17 minutes
Simplified approach to Classification2 minutes
Key takeaways3 minutes

14 readingsTotal 135 minutes

Program description and course syllabus5 minutes
Indian Customs Tariff and WCO Explanatory Notes30 minutes
CTH for Classification of Printer5 minutes
CTH for Classification of White Chocolate5 minutes
CTH for Classification of DWDM5 minutes
CTH for Classification of Smartphone5 minutes
General Rules of Interpretation - Introduction45 minutes
CTH for Classification of Data Projectors5 minutes
CTH for Classification of Combination of Drugs5 minutes
CTH for Classification of Gear and Components5 minutes
CTH for classification of cleaner and Disinfectant5 minutes
CTH for Classification of a Set of Articles5 minutes
CTH for Classification of Display System5 minutes
CTH for Classification of Pea Protein5 minutes

2 assignmentsTotal 60 minutes

Graded assessment: Classification30 minutes
Hands-on-project: Classification30 minutes

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.