HSN Code 74031300: Refined Copper | Billets

HSN Code 74031300 represents Refined Copper | Billets under GST classification. This code helps businesses identify Refined Copper | Billets correctly for billing, taxation, and trade. With HSN Code 74031300, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Refined Copper | Billets.

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Description of Goods for HSN Code 74031300

HSN Code 74031300 relates to the following description.

Description of Goods

Refined copper : Billets

Chapter

74 - Copper and articles thereof

Sub Chapter

7403 - Refined copper and copper alloys, unwrought

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 74031300 not include?

Refined Copper | Billets does not include products with the following descriptions.

HSN Code 74032310

Refined copper and copper alloys, unwrought - copper alloys : copper-nickel base alloys( cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) : copper-nickel base alloys (cupro-nickel)

HSN Code 74032320

Refined copper and copper alloys, unwrought - copper alloys : copper-nickel base alloys( cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) : copper-nickel-zinc base alloys(nickel silver)

HSN Code 74032900

Copper alloys : Other copper alloys (other than master alloys of heading 7405)

India’s Trade Performance — HSN Code 74031300 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

₹882 Cr

+46.13% vs FY 2023-24

0.0240% of India’s total exports

India’s Imports

FY 2024-25

₹141 Cr

−24.33% vs FY 2023-24

0.0023% of India’s total imports

Trade Balance

FY 2024-25

₹741 Cr

Trade Surplus

Surplus rank #451 of 12657 HSN codes

% of Sub-Chapter 7403

FY 2024-25

25.62%

Share of Sub-Chapter 7403’s total exports in FY 2024-25

Import side: 0.70% of Sub-Chapter 7403’s imports

Rank Within Sub-Chapter 7403

FY 2024-25

#2 of 10

Position by export value among HSN codes in Sub-Chapter 7403

Import-side rank: #3 of 10

At a glance

96.83%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#583

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+2,614.44%

Peak Growth Year

FY 2019-20 · strongest single-year move

25.62%

Contribution to Sub-Ch. 7403

Share of Sub-Chapter 7403 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 74031300

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #4455

Balance

−54.20

Exports

15.17 ₹ Cr

0.0007% share

— YoY

0.69% of Sub-Ch. 7403

Imports

69.37 ₹ Cr

0.0019% share

— YoY

1.57% of Sub-Ch. 7403

FY 2019-20 Exp. Rank #770

Balance

+332.80

Exports

411.78 ₹ Cr

0.0187% share

+2,614.44% YoY

22.41% of Sub-Ch. 7403

Imports

78.98 ₹ Cr

0.0024% share

+13.85% YoY

1.15% of Sub-Ch. 7403

FY 2020-21 Exp. Rank #170

Balance

+1,873.76

Exports

1,937.93 ₹ Cr

0.0901% share

+370.62% YoY

35.05% of Sub-Ch. 7403

Imports

64.17 ₹ Cr

0.0022% share

−18.75% YoY

0.81% of Sub-Ch. 7403

FY 2021-22 Exp. Rank #257

Balance

+1,762.53

Exports

1,875.89 ₹ Cr

0.0598% share

−3.20% YoY

21.06% of Sub-Ch. 7403

Imports

113.36 ₹ Cr

0.0025% share

+76.66% YoY

1.25% of Sub-Ch. 7403

FY 2022-23 Exp. Rank #468

Balance

+924.37

Exports

1,081.80 ₹ Cr

0.0299% share

−42.33% YoY

30.85% of Sub-Ch. 7403

Imports

157.43 ₹ Cr

0.0027% share

+38.88% YoY

1.34% of Sub-Ch. 7403

FY 2023-24 Exp. Rank #809

Balance

+417.59

Exports

603.75 ₹ Cr

0.0167% share

−44.19% YoY

17.27% of Sub-Ch. 7403

Imports

186.16 ₹ Cr

0.0033% share

+18.25% YoY

0.73% of Sub-Ch. 7403

FY 2024-25 Exp. Rank #583

Balance

+741.38

Exports

882.25 ₹ Cr

0.0240% share

+46.13% YoY

25.62% of Sub-Ch. 7403

Imports

140.87 ₹ Cr

0.0023% share

−24.33% YoY

0.70% of Sub-Ch. 7403

CAGR · 7-Year

Exports

96.83% /yr

Imports

12.53% /yr

Consistently Surplus
Sub-Chapter 7403 total

reference, FY 2024-25

Export

₹3,443.98 Cr

Import

₹20,048.57 Cr

Trade Balance

−16,604.59

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Code 74031300 Export-Import Analysis

Consistent Export Growth: 96.83% CAGR Over 7 Years

India's exports under HSN Code 74031300 have grown at a compound annual rate of 96.83% over 7 fiscal years, rising from ₹15.17 Crore in FY 2018-19 to ₹882.25 Crore in FY 2024-25.

HSN Code 74031300 Ranked #583 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 74031300 ranks #583 out of 12657 HSN codes by total export value. Within Sub-Chapter 7403, it ranks #2 of 10. By trade surplus, it ranks #451 of 12657.

FY 2019-20 Was the Strongest Growth Year for HSN Code 74031300 Exports

The strongest single-year export movement for HSN Code 74031300 was recorded in FY 2019-20, when exports surged by 2,614.44% over the prior year.

India Maintains a Trade Surplus of ₹741.38 Crore in HSN Code 74031300 Goods

In FY 2024-25, India's exports of ₹882.25 Cr exceeded imports of ₹140.87 Cr, resulting in a trade surplus of ₹741.38 Crore — ranking #451 of 12657 by surplus magnitude.

Import Growth of 12.53% CAGR Signals Rising Demand for Refined Copper | Billets

India's imports under HSN Code 74031300 have grown at 12.53% CAGR, reaching ₹140.87 Crore in FY 2024-25.

HSN Code 74031300 Contributes 25.62% of Sub-Chapter 7403 Exports — Ranked #2

Among the 10 HSN codes under Sub-Chapter 7403, HSN Code 74031300 ranks #2 by export value — accounting for 25.62% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.70% share (rank #3).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 74031300 and GST compliance.

What products are classified under HSN 74031300 ?

It includes Phosphor bronze

Can we claim ITC on inputs used to trade Refined Copper / Billets?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

Does packaging or labelling change the GST for Refined Copper / Billets?

For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading.

How much GST applies to Refined Copper / Billets?

Under HSN 74031300, Refined Copper / Billets attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Do e‑way bill and e‑invoice apply for Refined Copper / Billets?

e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.

How should mixed supplies be billed when Refined Copper / Billets is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Refined Copper / Billets; Nil for exempt items if applicable).

Any common misclassification issue with Refined Copper / Billets?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

Important Disclaimer

The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.