DGFT Updates Schedule-II of ITC (HS) 2022: Reclassifies Rice, Makhana, and Chemicals in Line with Finance Act, 2025

The Directorate General of Foreign Trade (DGFT) has announced updates to Schedule II of the Indian Trade Classification (Harmonized System), commonly known as ITC HS. These revisions involve the reclassification of various export and import items, including specific types of rice, makhana (fox nuts), and certain chemical products. The changes aim to align the trade classification codes with current industry standards, international nomenclature, and the provisions of the Finance Act. Such regular updates are crucial for maintaining clarity in trade data, facilitating smoother customs clearance, and ensuring accurate application of duties and trade policies.