--- title: "HSN Code for Frozen Whole Squids | HSN 03074320 GST Rate" description: "Find HSN and GST Rates for 03074320 related to Frozen Whole Squids with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-03074320/" --- # HSN Code 03074320: Frozen Whole Squids - [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 : Frozen: Whole Squids (other than fresh or chilled and other than pre-packaged and labelled unit container) | 0% | 0% | 0% | 0% | | Cuttle fish and squid : Frozen: Whole Squids | 2.5% | 2.5% | 5% | 0% | ## Frequently asked questions ### What products are classified under HSN 3074320 ? It includes Frozen Whole Squids ### Does ‘pre‑packaged & labelled’ change GST on Frozen Whole Squids? Yes. When Frozen Whole Squids is not fresh/chilled and is sold in pre‑packaged & labelled packs, GST is 5%. If it is not pre‑packaged & labelled, it stays Nil. ### Any import/export nuance for Frozen Whole Squids? Exports are zero‑rated. Imports may draw customs duties; domestic GST follows the schedule for the item’s form/packaging. ### Are e‑way bill and e‑invoice required for Frozen Whole Squids? e‑Way bill is needed for consignment value above ₹50,000 unless exempted. e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies. ### How to bill mixed items when Frozen Whole Squids is sold with exempt goods? Use separate invoice lines per HSN. Apply Varies for Frozen Whole Squids and Nil for exempt lines. This avoids misclassification and wrong tax collection. ### Is ITC allowed for costs used to trade Frozen Whole Squids? If your outward supply is taxable (e.g., 5% or 12%), eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How much GST applies to Frozen Whole Squids? Under HSN 03074320, Frozen Whole Squids attracts Varies subject to its exact form and packaging. Use the correct HSN and describe the form clearly on the invoice. ## India's trade performance: HSN Code 03074320 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹2,865 Cr (+0.53% YoY) — 0.0778% of India's total exports - Imports: ₹14 Cr (+5.72% YoY) — 0.0002% of India's total imports - Trade balance: ₹2,850 Cr (Surplus); surplus rank #126 of 12657 HSN codes - Share of Sub-Chapter 0307: 47.42% of its exports; import side 50.46% - Rank within Sub-Chapter 0307: #1 of 43 by export value; import-side #1 ### Key metrics - Export CAGR: 3.81% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #180 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +33.13% in FY 2021-22 - Contribution to Sub-Ch. 0307: 47.42% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 03074320 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 | 2,288.53 | 0.1002% | — | 43.81% | 10.30 | 0.0003% | — | 28.09% | +2,278.23 | #133 | | FY 2019-20 | 2,004.28 | 0.0911% | −12.42% | 41.84% | 11.81 | 0.0004% | +14.66% | 38.67% | +1,992.47 | #156 | | FY 2020-21 | 1,916.71 | 0.0891% | −4.37% | 46.94% | 11.54 | 0.0004% | −2.29% | 43.96% | +1,905.17 | #173 | | FY 2021-22 | 2,551.81 | 0.0813% | +33.13% | 46.12% | 12.94 | 0.0003% | +12.13% | 49.87% | +2,538.87 | #180 | | FY 2022-23 | 3,277.44 | 0.0905% | +28.44% | 47.73% | 16.99 | 0.0003% | +31.30% | 42.42% | +3,260.45 | #146 | | FY 2023-24 | 2,849.49 | 0.0788% | −13.06% | 47.33% | 13.63 | 0.0002% | −19.78% | 43.66% | +2,835.86 | #175 | | FY 2024-25 | 2,864.67 | 0.0778% | +0.53% | 47.42% | 14.41 | 0.0002% | +5.72% | 50.46% | +2,850.26 | #180 | - CAGR (7-year): exports 3.81%/yr, imports 5.76%/yr (consistently Surplus) ## Key trade insights: HSN Code 03074320 export-import analysis ### Consistent export growth: 3.81% CAGR over 7 years India's exports under HSN Code 03074320 have grown at a compound annual rate of 3.81% over 7 fiscal years, rising from ₹2,288.53 Crore in FY 2018-19 to ₹2,864.67 Crore in FY 2024-25. ### HSN Code 03074320 ranked #180 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 03074320 ranks #180 out of 12657 HSN codes by total export value. Within Sub-Chapter 0307, it ranks #1 of 43. By trade surplus, it ranks #126 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 03074320 exports The strongest single-year export movement for HSN Code 03074320 was recorded in FY 2021-22, when exports surged by 33.13% over the prior year. ### India maintains a trade surplus of ₹2,850.26 Crore in HSN Code 03074320 goods In FY 2024-25, India's exports of ₹2,864.67 Cr exceeded imports of ₹14.41 Cr, resulting in a trade surplus of ₹2,850.26 Crore — ranking #126 of 12657 by surplus magnitude. ### Import growth of 5.76% CAGR signals stable import dependency for Frozen Whole Squids India's imports under HSN Code 03074320 have grown at 5.76% CAGR, reaching ₹14.41 Crore in FY 2024-25. ### HSN Code 03074320 contributes 47.42% of Sub-Chapter 0307 exports — ranked #1 Among the 43 HSN codes under Sub-Chapter 0307, HSN Code 03074320 ranks #1 by export value — accounting for 47.42% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 50.46% share (rank #1). ## 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 (this hsn code) | ₹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 |