What is classification period in SAP SLL - Global Trade Services?

SAP Term: classification period

• Component: SLL

• Component Name: Global Trade Services

• Description: Time for which the assignment of a tariff number or other customs codes by which products can be identified in global trade to a product is valid. This classification period must match the validity period of the tariff number.

Smart SAP Assistant

• Key Concepts: 
  Classification period is a feature of SAP Global Trade Services (GTS) that allows users to classify goods and services for export and import purposes. It is used to determine the applicable export/import regulations, taxes, and duties for a particular transaction. The classification period is based on the date of the transaction and can be set up in the system to ensure that the correct regulations are applied.
  
  How to use it: 
  In order to use the classification period feature, users must first set up the classification period in the system. This can be done by entering the start date and end date of the period, as well as any other relevant information such as country codes or product codes. Once this is done, users can then select the applicable classification period when creating a new transaction. This will ensure that the correct regulations are applied to the transaction.
  
  Tips & Tricks: 
  It is important to ensure that the classification period is set up correctly in order for it to be effective. It is also important to keep track of any changes in regulations or taxes that may affect the classification period. Additionally, it is important to ensure that all transactions are classified correctly in order to avoid any potential penalties or fines.
  
  Related Information: 
  For more information on SAP Global Trade Services and how to use its features, please refer to SAP’s official documentation or contact your local SAP representative. Additionally, there are many online resources available that provide detailed information on how to use GTS and its features.