India Introduces New Harmonised System (HS) Codes for GI-Tagged Rice

India Introduces New Harmonised System (HS) Codes for GI-Tagged Rice

India has amended the Customs Tariff Act (1975) to introduce a Harmonised System (HS) code for rice varieties that are GI-recognised. This move will facilitate the smooth export of GI-tagged rice without requiring special notifications from the Ministry of Finance.

About HS (Harmonised System):

• Definition: The Harmonised System (HS) is a global classification system for products developed by the World Customs Organization (WCO).

• Classification Structure: HS assigns unique six-digit codes to various products and commodities. Countries can add further digits to these six-digit codes for more detailed classification.

Governance and Updates:

• The HS system is governed by the International Convention on the Harmonized Commodity Description and Coding System.
• The HS Committee, consisting of member countries, oversees the system and updates the codes every 5 to 6 years.

Widespread Adoption:

• The HS system classifies approximately 98% of international trade and includes over 5,000 commodity groups.
• It is implemented by more than 200 countries around the world.

Benefits of HS:

• The common coding method helps countries organize and track products in global trade.
• It is extensively used by governments, international organizations, and private entities for internal taxation, trade policies, and more.
• The system reduces international trade costs and supports economic research.

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