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.
4503 HSN Code: Articles of natural cork
HSN Sub Chapter 4503 represents Articles of natural cork under GST classification. This code helps businesses identify Articles of natural cork correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 4503, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Articles of natural cork.
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New GST Rate for HSN Code 4503
GST Rate for Articles of natural cork under HSN Code 4503. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.
Tariff HSN Codes under HSN Sub Chapter 4503
Following tariff HSN codes fall under Articles of natural cork.
India’s Trade Performance — HSN Sub-Chapter 4503 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< ₹1 Crore
−55.28%
vs FY 2023-24
0.0000% of India’s total exports
India’s Imports
FY 2024-25₹16 Cr
+30.97%
vs FY 2023-24
0.0003% of India’s total imports
Trade Balance
FY 2024-25−₹15 Cr
Trade Deficit
Surplus rank #610 of 1233 subchapters
% of Chapter 45
FY 2024-251.72%
Share of Chapter 45’s total exports in FY 2024-25
Import side: 15.11% of Chapter 45’s imports
Rank Within Chapter 45
FY 2024-25#4 of 4
Position by export value among subchapters in Chapter 45
Import-side rank: #3 of 4
At a glance
−10.49%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#1147
National Export Rank
of 1233 subchapters by export value, FY 2024-25
+76.92%
Peak Growth Year
FY 2023-24 · strongest single-year move
1.72%
Contribution to Ch. 45
Share of Chapter 45 exports in FY 2024-25
India Export-Import Trade Statistics for 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 2018-19
Exp. Rank #1124
Balance
−0.28
Exports
1.40 ₹ Cr
0.0001% share
— YoY
5.40% of Ch. 45
Imports
1.68 ₹ Cr
0.0000% share
— YoY
3.01% of Ch. 45
FY 2019-20
Exp. Rank #1101
Balance
+0.44
Exports
1.91 ₹ Cr
0.0001% share
+36.43% YoY
8.50% of Ch. 45
Imports
1.47 ₹ Cr
0.0000% share
−12.50% YoY
2.81% of Ch. 45
FY 2020-21
Exp. Rank #1117
Balance
−0.47
Exports
1.24 ₹ Cr
0.0001% share
−35.08% YoY
4.50% of Ch. 45
Imports
1.71 ₹ Cr
0.0001% share
+16.33% YoY
4.26% of Ch. 45
FY 2021-22
Exp. Rank #1129
Balance
−4.56
Exports
1.34 ₹ Cr
0.0000% share
+8.06% YoY
3.92% of Ch. 45
Imports
5.90 ₹ Cr
0.0001% share
+245.03% YoY
9.38% of Ch. 45
FY 2022-23
Exp. Rank #1143
Balance
−7.06
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−32.09% YoY
2.47% of Ch. 45
Imports
7.97 ₹ Cr
0.0001% share
+35.08% YoY
11.60% of Ch. 45
FY 2023-24
Exp. Rank #1133
Balance
−10.50
Exports
1.61 ₹ Cr
0.0000% share
+76.92% YoY
3.68% of Ch. 45
Imports
12.11 ₹ Cr
0.0002% share
+51.94% YoY
12.56% of Ch. 45
FY 2024-25
Exp. Rank #1147
Balance
−15.14
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−55.28% YoY
1.72% of Ch. 45
Imports
15.86 ₹ Cr
0.0003% share
+30.97% YoY
15.11% of Ch. 45
CAGR · 7-Year
Exports
−10.49% /yr
Imports
45.38% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Sub-Chapter 4503 Export-Import Analysis
HSN Sub-Chapter 4503 Ranked #1147 Among All 1233 Subchapters by Export Value
In FY 2024-25, HSN Sub-Chapter 4503 ranks #1147 out of 1233 subchapters 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 subchapters 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).
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Frequently Asked Questions
Clear answers to common queries about HSN Sub Chapter 4503 and GST compliance.
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.
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.