--- title: "4503 HSN Code | HSN Code for Articles of natural cork in India" description: "Know more about 4503 HSN Code with BUSY Accounting - HSN Tariff, GST Rates and case laws related to chapter 4503 covering Articles of natural cork." canonical: "https://busy.in/hsn/sub-chapter-4503/" --- # HSN Sub-chapter 4503: Articles of natural cork Articles of natural cork Part of [Chapter 45: Cork and Articles of Cork](https://busy.in/hsn/chapter-45/). - Current GST rate: 5% - Earlier GST rate: 12% ## HSN codes | Code | Title | | --- | --- | | 45031000 | [Corks and Stoppers](https://busy.in/hsn/hsn-45031000/) | | 45039010 | [Other : Shuttlecock cork bottom](https://busy.in/hsn/hsn-45039010/) | | 45039090 | [Articles of natural cork \| Other](https://busy.in/hsn/hsn-45039090/) | ## Frequently asked questions ### What products are classified under HSN 4503 It includes Articles of natural cork ### Can I claim ITC on inputs and services used for Articles of natural cork? If your outward supply of Articles of natural cork is taxable, ITC is generally available (Sections 16–17) except blocked credits (e.g., personal use, motor vehicles in most cases). For exempt supplies, proportionate reversal is required under Rule 42/43. ### What misclassification mistakes happen with Articles of natural cork? Using a broad or incorrect HSN, ignoring material/form (e.g., raw vs processed), or mixing goods and services on one line. Always match wording to the HSN Notes and keep a classification working paper. ### Any import/export nuance for Articles of natural cork? Exports are zero‑rated (with or without payment of IGST) subject to LUT/refund conditions. Imports may attract customs duties in addition to GST. Keep HSN‑wise description consistent across invoice, shipping bill and BOE. ### If I repair and return Articles of natural cork, how should I charge GST? Repair/service is a service supply (SAC). Parts and materials used are goods and may be billed separately with HSN. Mention both lines clearly to avoid mixing service and goods values. ### Any special steps when selling Articles of natural cork 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 4503 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: < ₹1 Crore (−55.28% YoY) — 0.0000% of India's total exports - Imports: ₹16 Cr (+30.97% YoY) — 0.0003% of India's total imports - Trade balance: −₹15 Cr (Deficit); surplus rank #610 of 1233 sub-chapters - Share of Chapter 45: 1.72% of its exports; import side 15.11% - Rank within Chapter 45: #4 of 4 by export value; import-side #3 ### Key metrics - Export CAGR: -10.49% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #1147 of 1233 sub-chapters by export value (FY 2024-25) - Peak growth year: +76.92% in FY 2023-24 - Contribution to Ch. 45: 1.72% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Sub-Chapter 4503 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. 45 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Ch. 45 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 1.40 | 0.0001% | — | 5.40% | 1.68 | 0.0000% | — | 3.01% | −0.28 | #1124 | | FY 2019-20 | 1.91 | 0.0001% | +36.43% | 8.50% | 1.47 | 0.0000% | −12.50% | 2.81% | +0.44 | #1101 | | FY 2020-21 | 1.24 | 0.0001% | −35.08% | 4.50% | 1.71 | 0.0001% | +16.33% | 4.26% | −0.47 | #1117 | | FY 2021-22 | 1.34 | 0.0000% | +8.06% | 3.92% | 5.90 | 0.0001% | +245.03% | 9.38% | −4.56 | #1129 | | FY 2022-23 | < ₹1 Crore | 0.0000% | −32.09% | 2.47% | 7.97 | 0.0001% | +35.08% | 11.60% | −7.06 | #1143 | | FY 2023-24 | 1.61 | 0.0000% | +76.92% | 3.68% | 12.11 | 0.0002% | +51.94% | 12.56% | −10.50 | #1133 | | FY 2024-25 | < ₹1 Crore | 0.0000% | −55.28% | 1.72% | 15.86 | 0.0003% | +30.97% | 15.11% | −15.14 | #1147 | - CAGR (7-year): exports -10.49%/yr, imports 45.38%/yr (consistently Deficit) ## Key trade insights: HSN Sub-Chapter 4503 export-import analysis ### Export decline: -10.49% CAGR over 7 years India's exports under HSN Sub-Chapter 4503 have declined at a compound annual rate of -10.49% over 7 fiscal years, falling from ₹1.40 Crore in FY 2018-19 to ₹0.72 Crore in FY 2024-25. ### HSN Sub-Chapter 4503 ranked #1147 among all 1233 sub-chapters by export value In FY 2024-25, HSN Sub-Chapter 4503 ranks #1147 out of 1233 sub-chapters by total export value. Within Chapter 45, it ranks #4 of 4. By trade surplus, it ranks #610 of 1233. ### FY 2023-24 was the strongest growth year for HSN Sub-Chapter 4503 exports The strongest single-year export movement for HSN Sub-Chapter 4503 was recorded in FY 2023-24, when exports surged by 76.92% over the prior year. ### India records a trade deficit of ₹15.14 Crore in HSN Sub-Chapter 4503 goods In FY 2024-25, India's imports of ₹15.86 Cr exceeded exports of ₹0.72 Cr, resulting in a trade deficit of ₹15.14 Crore — ranking #610 of 1233 by surplus magnitude. ### Import growth of 45.38% CAGR signals rising demand for Articles of natural cork India's imports under HSN Sub-Chapter 4503 have grown at 45.38% CAGR, reaching ₹15.86 Crore in FY 2024-25. ### HSN Sub-Chapter 4503 contributes 1.72% of Chapter 45 exports — ranked #4 Among the 4 sub-chapters under Chapter 45, HSN Sub-Chapter 4503 ranks #4 by export value — accounting for 1.72% of the chapter's total exports in FY 2024-25. On the import side, it holds 15.11% share (rank #3). ## Related Sub-Chapters in Chapter 45 Ranked by export value (FY 2024-25). | Rank | HSN Sub-Chapter | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Sub-Chapter 4504: Agglomerated cork articles](https://busy.in/hsn/sub-chapter-4504/) | ₹38 Cr | | #2 | [HSN Sub-Chapter 4501: Natural cork & processed cork](https://busy.in/hsn/sub-chapter-4501/) | ₹2 Cr | | #3 | [HSN Sub-Chapter 4502: Natural cork products](https://busy.in/hsn/sub-chapter-4502/) | ₹1 Cr | | #4 | HSN Sub-Chapter 4503: Articles of natural cork (this hsn sub-chapter) | < ₹1 Crore | ## Other sub-chapters | Code | Title | | --- | --- | | 4501 | [Natural cork & processed cork](https://busy.in/hsn/sub-chapter-4501/) | | 4502 | [Natural cork products](https://busy.in/hsn/sub-chapter-4502/) | | 4504 | [Agglomerated cork articles](https://busy.in/hsn/sub-chapter-4504/) |