Known for its strong acidic content, nitric acid is basically the spirit form of aqua fortis and niter. This colorless acid tends to attain a yellowish color with the passing of time as it decomposes to oxides of water and nitrogen. As a common reagent, nitric acid can be produced by following catalytic oxidation of ammonia. It is popularly used in laboratories as reagent for producing fertilizers and explosives. Nitric acid is considered as important element for producing ammonium nitrate for the formulation of fertilizer, for producing dyes and plastics.