9703 HSN Code: Original sculptures

HSN Sub Chapter 9703 represents Original sculptures under GST classification. This code helps businesses identify Original sculptures correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 9703, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Original sculptures.

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New GST Rate for HSN Code 9703

GST Rate for Original sculptures under HSN Code 9703. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

97

HSN Code

9703

HSN Description

Original sculptures and statuary, in any material

New GST Rate

5 %
Essential

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 9703

Following tariff HSN codes fall under Original sculptures.

Tariff HSN

97030010

Description

Original sculptures and statuary, in metal

Tariff HSN

97030020

Description

Original sculptures and statuary, in stone

Tariff HSN

97030090

Description

Original sculptures and statuary, in other materials

Tariff HSN

97031010

Description

Of an age exceeding 100 years: Of metal

Tariff HSN

97031020

Description

Of an age exceeding 100 years: Of Stone

Tariff HSN

97031090

Description

Of an age exceeding 100 years: Other

Tariff HSN

97039010

Description

Other: Of metal

Tariff HSN

97039020

Description

Other: Of Stone

Tariff HSN

97039090

Description

Other: Other

India’s Trade Performance — HSN Sub-Chapter 9703 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

₹158 Cr

−21.87% vs FY 2023-24

0.0043% of India’s total exports

India’s Imports

FY 2024-25

₹276 Cr

−65.42% vs FY 2023-24

0.0045% of India’s total imports

Trade Balance

FY 2024-25

−₹117 Cr

Trade Deficit

Surplus rank #735 of 1233 subchapters

% of Chapter 97

FY 2024-25

11.69%

Share of Chapter 97’s total exports in FY 2024-25

Import side: 12.14% of Chapter 97’s imports

Rank Within Chapter 97

FY 2024-25

#2 of 6

Position by export value among subchapters in Chapter 97

Import-side rank: #3 of 6

At a glance

10.58%

Export CAGR

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

#748

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+164.54%

Peak Growth Year

FY 2023-24 · strongest single-year move

11.69%

Contribution to Ch. 97

Share of Chapter 97 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 9703

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 #742

Balance

−0.39

Exports

86.64 ₹ Cr

0.0038% share

— YoY

12.07% of Ch. 97

Imports

87.03 ₹ Cr

0.0024% share

— YoY

13.06% of Ch. 97

FY 2019-20 Exp. Rank #583

Balance

+39.13

Exports

213.86 ₹ Cr

0.0097% share

+146.84% YoY

24.19% of Ch. 97

Imports

174.73 ₹ Cr

0.0052% share

+100.77% YoY

21.31% of Ch. 97

FY 2020-21 Exp. Rank #843

Balance

−111.63

Exports

47.85 ₹ Cr

0.0022% share

−77.63% YoY

12.51% of Ch. 97

Imports

159.48 ₹ Cr

0.0055% share

−8.73% YoY

33.75% of Ch. 97

FY 2021-22 Exp. Rank #835

Balance

−23.54

Exports

67.39 ₹ Cr

0.0021% share

+40.84% YoY

12.35% of Ch. 97

Imports

90.93 ₹ Cr

0.0020% share

−42.98% YoY

18.54% of Ch. 97

FY 2022-23 Exp. Rank #842

Balance

−90.56

Exports

76.64 ₹ Cr

0.0021% share

+13.73% YoY

7.03% of Ch. 97

Imports

167.20 ₹ Cr

0.0029% share

+83.88% YoY

14.21% of Ch. 97

FY 2023-24 Exp. Rank #691

Balance

−595.06

Exports

202.74 ₹ Cr

0.0056% share

+164.54% YoY

7.26% of Ch. 97

Imports

797.80 ₹ Cr

0.0142% share

+377.15% YoY

20.61% of Ch. 97

FY 2024-25 Exp. Rank #748

Balance

−117.45

Exports

158.40 ₹ Cr

0.0043% share

−21.87% YoY

11.69% of Ch. 97

Imports

275.85 ₹ Cr

0.0045% share

−65.42% YoY

12.14% of Ch. 97

CAGR · 7-Year

Exports

10.58% /yr

Imports

21.20% /yr

Consistently Deficit
Chapter 97 total

reference, FY 2024-25

Export

₹1,354.59 Cr

Import

₹2,272.80 Cr

Trade Balance

−918.21

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

Key Trade Insights: HSN Sub-Chapter 9703 Export-Import Analysis

Consistent Export Growth: 10.58% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 9703 have grown at a compound annual rate of 10.58% over 7 fiscal years, rising from ₹86.64 Crore in FY 2018-19 to ₹158.40 Crore in FY 2024-25.

HSN Sub-Chapter 9703 Ranked #748 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 9703 ranks #748 out of 1233 subchapters by total export value. Within Chapter 97, it ranks #2 of 6. By trade surplus, it ranks #735 of 1233.

FY 2023-24 Was the Strongest Growth Year for HSN Sub-Chapter 9703 Exports

The strongest single-year export movement for HSN Sub-Chapter 9703 was recorded in FY 2023-24, when exports surged by 164.54% over the prior year.

India Records a Trade Deficit of ₹117.45 Crore in HSN Sub-Chapter 9703 Goods

In FY 2024-25, India's imports of ₹275.85 Cr exceeded exports of ₹158.40 Cr, resulting in a trade deficit of ₹117.45 Crore — ranking #735 of 1233 by surplus magnitude.

Import Growth of 21.20% CAGR Signals Rising Demand for Original sculptures

India's imports under HSN Sub-Chapter 9703 have grown at 21.20% CAGR, reaching ₹275.85 Crore in FY 2024-25.

HSN Sub-Chapter 9703 Contributes 11.69% of Chapter 97 Exports — Ranked #2

Among the 6 subchapters under Chapter 97, HSN Sub-Chapter 9703 ranks #2 by export value — accounting for 11.69% of the chapter's total exports in FY 2024-25. On the import side, it holds 12.14% share (rank #3).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 9703 and GST compliance.

What products are classified under HSN 9703

It includes Original sculptures

Does MRP, weight or pack size change GST treatment for Original sculptures?

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.

What misclassification mistakes happen with Original sculptures?

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 Original sculptures?

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.

What are the e‑way bill and e‑invoice points while moving Original sculptures?

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.

Can I claim ITC on inputs and services used for Original sculptures?

If your outward supply of Original sculptures 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.

Any special steps when selling Original sculptures 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.

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