What products are classified under HSN 0703
It includes Refined olive oil
HSN Sub Chapter 0703 represents Refined olive oil under GST classification. This code helps businesses identify Refined olive oil correctly for billing, taxation, and trade. With HSN Sub Chapter 0703, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Refined olive oil.
GST Rate for Refined olive oil under HSN Code 0703. Understand Current Tax Rates, Exemptions, and Legal Classifications to Ensure Accurate Billing and GST Filing.
| Chapter No | HSN Code | HSN Description | New GST Rate | Old GST Rate |
|---|---|---|---|---|
| 07 | 0703 | Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or chilled | 0% | 0% |
Chapter: 07
Description: Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or chilled
Following Tariff HSN code falls under Refined olive oil:
| Tariff HSN | Description |
|---|---|
| Onions, shallots, garlic, leeks and otheralliaceous vegetables, fresh or chilled onions and shallots onions | |
| Onions and shallots: Rose Onions | |
| Onions and shallots: Other | |
| Onions and shallots: Shallots | |
| Other | |
| Garlic | |
| Leeks and other alliaceous vegetables |
Onions, shallots, garlic, leeks and otheralliaceous vegetables, fresh or chilled onions and shallots onions
Onions and shallots: Rose Onions
Onions and shallots: Other
Onions and shallots: Shallots
Other
Garlic
Leeks and other alliaceous vegetables
It includes Refined olive oil
Some entries use MRP/weight‑based conditions for classification. Keep pack size, retail marking and brand status on records and invoice to support the chosen HSN.
Use a delivery challan for sending Refined olive oil to the job worker. Declare movement in your records and reconcile when the goods return. If the job worker raises a service invoice, classify it under SAC; your goods remain under the original HSN.
Generate an e‑way bill when the consignment value exceeds ₹50,000, unless exempted for the transaction. E‑invoicing depends on turnover (AATO threshold as notified) for B2B supplies, not on the item itself.
Include HSN, exact description, pack size/grade, quantity, and if pre‑packaged & labelled. Maintain purchase specs, test reports (where relevant), and job‑work challans for audit trail.
Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Refined olive oil are forward charge. Check the current notifications for any special cases before deciding.
Ensure registration requirements are met and reconcile the operator’s TCS statements with your GSTR‑2B/3B. Map SKU descriptions to HSN to reduce mismatches and returns.
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.