--- title: "0703 HSN Code | HSN Code for Refined olive oil in India" description: "Know more about 0703 HSN Code with BUSY Accounting - HSN Tariff, GST Rates and case laws related to chapter 0703 covering Refined olive oil." canonical: "https://busy.in/hsn/sub-chapter-0703/" --- # HSN Sub-chapter 0703: Refined olive oil Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or chilled Part of [Chapter 07: Edible Vegetables and Certain Roots and Tubers](https://busy.in/hsn/chapter-07/). - Current GST rate: 0% - Earlier GST rate: 0% ## HSN codes | Code | Title | | --- | --- | | 07031010 | [Onions/shallots fresh/chilled](https://busy.in/hsn/hsn-07031010/) | | 07031011 | [Onions And Shallots\| Rose Onions](https://busy.in/hsn/hsn-07031011/) | | 07031019 | [Onions And Shallots \| Other](https://busy.in/hsn/hsn-07031019/) | | 07031020 | [Onions And Shallots\| Shallots](https://busy.in/hsn/hsn-07031020/) | | 07031090 | [Other vegetables, fresh or chilled globe artichokes](https://busy.in/hsn/hsn-07031090/) | | 07032000 | [Garlic](https://busy.in/hsn/hsn-07032000/) | | 07039000 | [Leeks And Other Alliaceous Vegetables](https://busy.in/hsn/hsn-07039000/) | ## Frequently asked questions ### What products are classified under HSN 0703 It includes Refined olive oil ### Does MRP, weight or pack size change GST treatment for 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. ### How should I document Refined olive oil sent for job work? 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. ### What are the e‑way bill and e‑invoice points while moving Refined olive oil? 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. ### What should my invoice and records include for Refined olive oil? 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. ### Can reverse charge ever apply to transactions involving Refined olive oil? 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. ### Any special steps when selling Refined olive oil through an e‑commerce platform? 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. ## India's trade performance: HSN Sub-Chapter 0703 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹4,060 Cr (−6.63% YoY) — 0.1096% of India's total exports - Imports: ₹208 Cr (−40.11% YoY) — 0.0034% of India's total imports - Trade balance: ₹3,852 Cr (Surplus); surplus rank #89 of 1233 sub-chapters - Share of Chapter 07: 21.89% of its exports; import side 0.44% - Rank within Chapter 07: #2 of 14 by export value; import-side #2 ### Key metrics - Export CAGR: 2.21% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #156 of 1233 sub-chapters by export value (FY 2024-25) - Peak growth year: +33.11% in FY 2022-23 - Contribution to Ch. 07: 21.89% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Sub-Chapter 0703 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 Ch. 07 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Ch. 07 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 3,560.19 | 0.1551% | — | 39.17% | 8.63 | 0.0002% | — | 0.10% | +3,551.56 | #126 | | FY 2019-20 | 2,388.59 | 0.1081% | −32.91% | 30.77% | 575.87 | 0.0172% | +6,572.89% | 5.15% | +1,812.72 | #161 | | FY 2020-21 | 2,924.10 | 0.1359% | +22.42% | 30.14% | 245.42 | 0.0084% | −57.38% | 1.97% | +2,678.68 | #143 | | FY 2021-22 | 3,561.93 | 0.1135% | +21.81% | 32.13% | 113.16 | 0.0025% | −53.89% | 0.65% | +3,448.77 | #150 | | FY 2022-23 | 4,741.30 | 0.1309% | +33.11% | 30.76% | 22.97 | 0.0004% | −79.70% | 0.14% | +4,718.33 | #133 | | FY 2023-24 | 4,348.43 | 0.1202% | −8.29% | 27.06% | 347.67 | 0.0062% | +1,413.58% | 1.09% | +4,000.76 | #146 | | FY 2024-25 | 4,059.97 | 0.1096% | −6.63% | 21.89% | 208.21 | 0.0034% | −40.11% | 0.44% | +3,851.76 | #156 | - CAGR (7-year): exports 2.21%/yr, imports 69.99%/yr (consistently Surplus) ## Key trade insights: HSN Sub-Chapter 0703 export-import analysis ### Consistent export growth: 2.21% CAGR over 7 years India's exports under HSN Sub-Chapter 0703 have grown at a compound annual rate of 2.21% over 7 fiscal years, rising from ₹3,560.19 Crore in FY 2018-19 to ₹4,059.97 Crore in FY 2024-25. ### HSN Sub-Chapter 0703 ranked #156 among all 1233 sub-chapters by export value In FY 2024-25, HSN Sub-Chapter 0703 ranks #156 out of 1233 sub-chapters by total export value. Within Chapter 07, it ranks #2 of 14. By trade surplus, it ranks #89 of 1233. ### FY 2022-23 was the strongest growth year for HSN Sub-Chapter 0703 exports The strongest single-year export movement for HSN Sub-Chapter 0703 was recorded in FY 2022-23, when exports surged by 33.11% over the prior year. ### India maintains a trade surplus of ₹3,851.76 Crore in HSN Sub-Chapter 0703 goods In FY 2024-25, India's exports of ₹4,059.97 Cr exceeded imports of ₹208.21 Cr, resulting in a trade surplus of ₹3,851.76 Crore — ranking #89 of 1233 by surplus magnitude. ### Import growth of 69.99% CAGR signals rising demand for Refined olive oil India's imports under HSN Sub-Chapter 0703 have grown at 69.99% CAGR, reaching ₹208.21 Crore in FY 2024-25. ### HSN Sub-Chapter 0703 contributes 21.89% of Chapter 07 exports — ranked #2 Among the 14 sub-chapters under Chapter 07, HSN Sub-Chapter 0703 ranks #2 by export value — accounting for 21.89% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.44% share (rank #2). ## Related Sub-Chapters in Chapter 07 Ranked by export value (FY 2024-25). | Rank | HSN Sub-Chapter | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Sub-Chapter 0713: Dried Leguminous Vegetables, Shelled](https://busy.in/hsn/sub-chapter-0713/) | ₹7,243 Cr | | #2 | HSN Sub-Chapter 0703: Refined olive oil (this hsn sub-chapter) | ₹4,060 Cr | | #3 | [HSN Sub-Chapter 0712: Developed photographic film](https://busy.in/hsn/sub-chapter-0712/) | ₹2,534 Cr | | #4 | [HSN Sub-Chapter 0709: Fresh or chilled vegetables, other](https://busy.in/hsn/sub-chapter-0709/) | ₹1,455 Cr | | #5 | [HSN Sub-Chapter 0711: Vegetables in preservation](https://busy.in/hsn/sub-chapter-0711/) | ₹1,061 Cr | | #6 | [HSN Sub-Chapter 0701: Potatoes, fresh or chilled](https://busy.in/hsn/sub-chapter-0701/) | ₹1,015 Cr | | #7 | [HSN Sub-Chapter 0710: Frozen vegetables](https://busy.in/hsn/sub-chapter-0710/) | ₹809 Cr | | #8 | [HSN Sub-Chapter 0702: Tomatoes, fresh or chilled](https://busy.in/hsn/sub-chapter-0702/) | ₹204 Cr | | #9 | [HSN Sub-Chapter 0714: Roots/tubers with high starch, fresh](https://busy.in/hsn/sub-chapter-0714/) | ₹96 Cr | | #10 | [HSN Sub-Chapter 0708: Fresh leguminous vegetables](https://busy.in/hsn/sub-chapter-0708/) | ₹26 Cr | ## Other sub-chapters | Code | Title | | --- | --- | | 0701 | [Potatoes, fresh or chilled](https://busy.in/hsn/sub-chapter-0701/) | | 0702 | [Tomatoes, fresh or chilled](https://busy.in/hsn/sub-chapter-0702/) | | 0704 | [Man-made yarn for retail](https://busy.in/hsn/sub-chapter-0704/) | | 0705 | [Fresh lettuce and chicory](https://busy.in/hsn/sub-chapter-0705/) | | 0706 | [Fresh edible root vegetables](https://busy.in/hsn/sub-chapter-0706/) | | 0707 | [Cucumbers or gherkins](https://busy.in/hsn/sub-chapter-0707/) | | 0708 | [Fresh leguminous vegetables](https://busy.in/hsn/sub-chapter-0708/) | | 0709 | [Fresh or chilled vegetables, other](https://busy.in/hsn/sub-chapter-0709/) | | 0710 | [Frozen vegetables](https://busy.in/hsn/sub-chapter-0710/) | | 0711 | [Vegetables in preservation](https://busy.in/hsn/sub-chapter-0711/) | | 0712 | [Developed photographic film](https://busy.in/hsn/sub-chapter-0712/) | | 0713 | [Dried Leguminous Vegetables, Shelled](https://busy.in/hsn/sub-chapter-0713/) | | 0714 | [Roots/tubers with high starch, fresh](https://busy.in/hsn/sub-chapter-0714/) |