--- title: "HSN Code for Fresh Squid | HSN 03074220 GST Rate" description: "Find HSN and GST Rates for 03074220 related to Fresh Squid with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-03074220/" --- # HSN Code 03074220: Fresh Squid - [Section 01: Guide to HSN Section 01](https://busy.in/hsn/section-01/) - [Chapter 03: Fish, Molluscs and Aquatic Invertebrates](https://busy.in/hsn/chapter-03/) - [Sub-chapter 0307: Molluscs, fresh, frozen, dried, salted](https://busy.in/hsn/sub-chapter-0307/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Cuttle fish and squid : squid | 0% | 0% | 0% | 0% | ## Frequently asked questions ### What products are classified under HSN 3074220 ? It includes Fresh Squid ### Does e‑invoicing apply for Fresh Squid? e‑Invoicing depends on turnover, not the item rate. If AATO exceeds the notified threshold (presently ₹5 crore), B2B invoices must be reported to IRP unless you are a notified exempt person. ### How should I show Fresh Squid on the invoice? Use the correct HSN and mention the form (fresh/chilled vs frozen/dried) and whether it’s pre‑packaged & labelled. ### Can I claim ITC on expenses linked to Fresh Squid? No. ITC attributable to exempt/Nil supplies is not available. If you also make taxable supplies, apportion and reverse credit under Rule 42. ### Any typical mistake to avoid with Fresh Squid? Don’t charge GST on exempt fresh/chilled items. Only non‑fresh/chilled, pre‑packaged & labelled packs draw 5%. ## India's trade performance: HSN Code 03074220 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹6 Cr (−25.87% YoY) — 0.0002% of India's total exports - Imports: Nil — 0.0000% of India's total imports - Trade balance: ₹6 Cr (Surplus); surplus rank #3667 of 12657 HSN codes - Share of Sub-Chapter 0307: 0.09% of its exports; import side 0.00% - Rank within Sub-Chapter 0307: #13 of 43 by export value ### Key metrics - Export CAGR: -15.29% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #6480 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +18.97% in FY 2019-20 - Contribution to Sub-Ch. 0307: 0.09% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 03074220 7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB. | FY | Exports (₹ Cr) | Exp share | Exp YoY | Exp % of Sub-Ch. 0307 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 0307 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 14.97 | 0.0007% | — | 0.29% | Nil | 0.0000% | — | 0.00% | +14.97 | #4479 | | FY 2019-20 | 17.81 | 0.0008% | +18.97% | 0.37% | Nil | 0.0000% | — | 0.00% | +17.81 | #4272 | | FY 2020-21 | 10.94 | 0.0005% | −38.57% | 0.27% | Nil | 0.0000% | — | 0.00% | +10.94 | #4952 | | FY 2021-22 | 7.94 | 0.0003% | −27.42% | 0.14% | Nil | 0.0000% | — | 0.00% | +7.94 | #5778 | | FY 2022-23 | 7.50 | 0.0002% | −5.54% | 0.11% | Nil | 0.0000% | — | 0.00% | +7.50 | #5999 | | FY 2023-24 | 7.46 | 0.0002% | −0.53% | 0.12% | Nil | 0.0000% | — | 0.00% | +7.46 | #6080 | | FY 2024-25 | 5.53 | 0.0002% | −25.87% | 0.09% | Nil | 0.0000% | — | 0.00% | +5.53 | #6480 | - CAGR (7-year): exports -15.29%/yr, imports —/yr (consistently Surplus) ## Key trade insights: HSN Code 03074220 export-import analysis ### Export decline: -15.29% CAGR over 7 years India's exports under HSN Code 03074220 have declined at a compound annual rate of -15.29% over 7 fiscal years, falling from ₹14.97 Crore in FY 2018-19 to ₹5.53 Crore in FY 2024-25. ### HSN Code 03074220 ranked #6480 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 03074220 ranks #6480 out of 12657 HSN codes by total export value. Within Sub-Chapter 0307, it ranks #13 of 43. By trade surplus, it ranks #3667 of 12657. ### FY 2019-20 was the strongest growth year for HSN Code 03074220 exports The strongest single-year export movement for HSN Code 03074220 was recorded in FY 2019-20, when exports surged by 18.97% over the prior year. ### India maintains a trade surplus of ₹5.53 Crore in HSN Code 03074220 goods In FY 2024-25, India's exports of ₹5.53 Cr exceeded imports of ₹0.00 Cr, resulting in a trade surplus of ₹5.53 Crore — ranking #3667 of 12657 by surplus magnitude. ### HSN Code 03074220 contributes 0.09% of Sub-Chapter 0307 exports — ranked #13 Among the 43 HSN codes under Sub-Chapter 0307, HSN Code 03074220 ranks #13 by export value — accounting for 0.09% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.00% share. ## Related HSN Codes in Sub-Chapter 0307 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 03074320: Frozen Whole Squids](https://busy.in/hsn/hsn-03074320/) | ₹2,865 Cr | | #2 | [HSN Code 03074310: Frozen Cuttle Fish](https://busy.in/hsn/hsn-03074310/) | ₹2,380 Cr | | #3 | [HSN Code 03075200: Tyres for Lorries/Buses](https://busy.in/hsn/hsn-03075200/) | ₹428 Cr | | #4 | [HSN Code 03074330: Frozen Squid Tubes](https://busy.in/hsn/hsn-03074330/) | ₹112 Cr | | #5 | [HSN Code 03074990: Other Cuttle Fish & Squids](https://busy.in/hsn/hsn-03074990/) | ₹83 Cr | | #6 | [HSN Code 03073910: Frozen Clams/Clam Meat (excl. pre-packaged)](https://busy.in/hsn/hsn-03073910/) | ₹39 Cr | | #7 | [HSN Code 03073990: Other Mussels (Other)](https://busy.in/hsn/hsn-03073990/) | ₹32 Cr | | #8 | [HSN Code 03075900: Frozen octopus](https://busy.in/hsn/hsn-03075900/) | ₹25 Cr | | #9 | [HSN Code 03074390: Cuttlefish/squid frozen other](https://busy.in/hsn/hsn-03074390/) | ₹22 Cr | | #10 | [HSN Code 03079200: Frozen seafood – Other](https://busy.in/hsn/hsn-03079200/) | ₹21 Cr | | #13 | HSN Code 03074220: Fresh Squid (this hsn code) | ₹6 Cr |