The Harmonized Commodity Description and Coding System, popularly known as Harmonized System (HS), is a multipurpose international goods nomenclature used as the basis for Customs tariffs and for the compilation of international trade statistics all over the world. The HS was developed by the World Customs Organization (WCO) and was implemented with effect from 1 January 1988.
In order to be in line with the changes in technology and other requirements including volume of trade, the HS is revised periodically in a cycle of four to six years. The last amended version was released in 2012 (i.e. 5th edition).
On the 28th of October 2016, the WCO released the 2017 edition of the HS nomenclature; incorporating 233 sets of amendments in sectors such as agricultural, chemical, textiles, machinery, transport, wood and base metal. The 2017 edition will enter into force in Sri Lanka in April 2017.