7403 HSN Code: Refined Copper

HSN Sub Chapter 7403 represents Refined Copper under GST classification. This code helps businesses identify Refined Copper correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7403, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Refined Copper.

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New GST Rate for HSN Code 7403

GST Rate for Refined Copper under HSN Code 7403. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

74

HSN Code

7403

HSN Description

Refined copper and copper alloys, unwrought

New GST Rate

18 %
Standard

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 7403

Following tariff HSN codes fall under Refined Copper.

Tariff HSN

74031100

Description

Refined copper : Cathodes and sections of cathodes

Tariff HSN

74031200

Description

Refined copper : Wire-bars

Tariff HSN

74031300

Description

Refined copper : Billets

Tariff HSN

74031900

Description

Refined copper : Other

Tariff HSN

74032100

Description

Copper alloys : Copper-zinc base alloys (brass)

Tariff HSN

74032210

Description

Copper alloys : Copper-tin base alloys (bronze) : Phosphor bronze

Tariff HSN

74032290

Description

Copper alloys : Copper-tin base alloys (bronze) : Other

Tariff HSN

74032310

Description

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)

Tariff HSN

74032320

Description

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)

Tariff HSN

74032900

Description

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

India’s Trade Performance — HSN Sub-Chapter 7403 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

₹3,444 Cr

−1.49% vs FY 2023-24

0.0930% of India’s total exports

India’s Imports

FY 2024-25

₹20,049 Cr

−20.86% vs FY 2023-24

0.3288% of India’s total imports

Trade Balance

FY 2024-25

−₹16,605 Cr

Trade Deficit

Surplus rank #1178 of 1233 subchapters

% of Chapter 74

FY 2024-25

19.62%

Share of Chapter 74’s total exports in FY 2024-25

Import side: 22.07% of Chapter 74’s imports

Rank Within Chapter 74

FY 2024-25

#2 of 16

Position by export value among subchapters in Chapter 74

Import-side rank: #3 of 16

At a glance

7.79%

Export CAGR

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

#183

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+201.01%

Peak Growth Year

FY 2020-21 · strongest single-year move

19.62%

Contribution to Ch. 74

Share of Chapter 74 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7403

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 #175

Balance

−2,225.32

Exports

2,195.46 ₹ Cr

0.0956% share

— YoY

31.35% of Ch. 74

Imports

4,420.78 ₹ Cr

0.1231% share

— YoY

11.99% of Ch. 74

FY 2019-20 Exp. Rank #196

Balance

−5,029.05

Exports

1,837.10 ₹ Cr

0.0832% share

−16.32% YoY

30.31% of Ch. 74

Imports

6,866.15 ₹ Cr

0.2047% share

+55.32% YoY

19.02% of Ch. 74

FY 2020-21 Exp. Rank #69

Balance

−2,393.52

Exports

5,529.79 ₹ Cr

0.2571% share

+201.01% YoY

54.17% of Ch. 74

Imports

7,923.31 ₹ Cr

0.2719% share

+15.40% YoY

23.20% of Ch. 74

FY 2021-22 Exp. Rank #60

Balance

−168.51

Exports

8,908.31 ₹ Cr

0.2839% share

+61.10% YoY

51.98% of Ch. 74

Imports

9,076.82 ₹ Cr

0.1986% share

+14.56% YoY

17.26% of Ch. 74

FY 2022-23 Exp. Rank #165

Balance

−8,199.77

Exports

3,506.64 ₹ Cr

0.0968% share

−60.64% YoY

26.03% of Ch. 74

Imports

11,706.41 ₹ Cr

0.2036% share

+28.97% YoY

19.11% of Ch. 74

FY 2023-24 Exp. Rank #165

Balance

−21,836.94

Exports

3,496.09 ₹ Cr

0.0966% share

−0.30% YoY

18.24% of Ch. 74

Imports

25,333.03 ₹ Cr

0.4511% share

+116.40% YoY

33.14% of Ch. 74

FY 2024-25 Exp. Rank #183

Balance

−16,604.59

Exports

3,443.98 ₹ Cr

0.0930% share

−1.49% YoY

19.62% of Ch. 74

Imports

20,048.57 ₹ Cr

0.3288% share

−20.86% YoY

22.07% of Ch. 74

CAGR · 7-Year

Exports

7.79% /yr

Imports

28.66% /yr

Consistently Deficit
Chapter 74 total

reference, FY 2024-25

Export

₹17,551.94 Cr

Import

₹90,850.32 Cr

Trade Balance

−73,298.38

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

Key Trade Insights: HSN Sub-Chapter 7403 Export-Import Analysis

Consistent Export Growth: 7.79% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7403 have grown at a compound annual rate of 7.79% over 7 fiscal years, rising from ₹2,195.46 Crore in FY 2018-19 to ₹3,443.98 Crore in FY 2024-25.

HSN Sub-Chapter 7403 Ranked #183 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7403 ranks #183 out of 1233 subchapters by total export value. Within Chapter 74, it ranks #2 of 16. By trade surplus, it ranks #1178 of 1233.

FY 2020-21 Was the Strongest Growth Year for HSN Sub-Chapter 7403 Exports

The strongest single-year export movement for HSN Sub-Chapter 7403 was recorded in FY 2020-21, when exports surged by 201.01% over the prior year.

India Records a Trade Deficit of ₹16,604.59 Crore in HSN Sub-Chapter 7403 Goods

In FY 2024-25, India's imports of ₹20,048.57 Cr exceeded exports of ₹3,443.98 Cr, resulting in a trade deficit of ₹16,604.59 Crore — ranking #1178 of 1233 by surplus magnitude.

Import Growth of 28.66% CAGR Signals Rising Demand for Refined Copper

India's imports under HSN Sub-Chapter 7403 have grown at 28.66% CAGR, reaching ₹20,048.57 Crore in FY 2024-25.

HSN Sub-Chapter 7403 Contributes 19.62% of Chapter 74 Exports — Ranked #2

Among the 16 subchapters under Chapter 74, HSN Sub-Chapter 7403 ranks #2 by export value — accounting for 19.62% of the chapter's total exports in FY 2024-25. On the import side, it holds 22.07% share (rank #3).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7403 and GST compliance.

What products are classified under HSN 7403

It includes Refined Copper

Can I claim ITC on inputs and services used for Refined Copper?

If your outward supply of Refined Copper 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 Refined Copper?

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.

What are the e‑way bill and e‑invoice points while moving Refined Copper?

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.

Any special steps when selling Refined Copper 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.

What should my invoice and records include for Refined Copper?

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.

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.

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