What is Commodity Classifications in SAP SRD-SRM-GLO-INT - COM-Intrastat/FTA?

SAP Term: Commodity Classifications

• Component: SRD-SRM-GLO-INT

• Component Name: COM-Intrastat/FTA

• Description: A work center view in which you can upload or create a commodity catalog and then classify materials based on the commodity codes listed in the catalog.

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• Key Concepts: 
  Commodity Classifications are used to classify goods for international trade. This classification is based on the Harmonized System (HS) of the World Customs Organization (WCO). The HS is a global system of nomenclature that is used to classify goods for international trade. It is used by customs authorities around the world to identify and classify goods for taxation and other purposes. 
  
  How to use it: 
  In SAP, Commodity Classifications are used to classify goods for international trade. The Commodity Classification module in SAP allows users to assign a commodity code to each item in their inventory. This code is then used to determine the applicable taxes and duties when the item is shipped internationally. The Commodity Classification module also allows users to view and manage their commodity codes, as well as view and manage related documents such as certificates of origin and invoices. 
  
  Tips & Tricks: 
  When assigning a commodity code to an item in SAP, it is important to ensure that the code is accurate and up-to-date. This will help ensure that the correct taxes and duties are applied when the item is shipped internationally. It is also important to keep track of any changes in the commodity codes, as this can affect the taxes and duties applied. 
  
  Related Information: 
  The Harmonized System (HS) of the World Customs Organization (WCO) provides detailed information on how goods should be classified for international trade. The WCO also provides a searchable database of commodity codes, which can be used to find the correct code for an item. Additionally, there are several websites that provide information on how to use SAP’s Commodity Classification module.