Consistent Export Growth: 18.63% CAGR Over 7 Years
India's exports under HSN Chapter 92 have grown at a compound annual rate of 18.63% over 7 fiscal years, rising from ₹140.21 Crore in FY 2018-19 to ₹390.88 Crore in FY 2024-25.
92 HSN Code: Musical Instruments, Its Parts
HSN Chapter 92 represents Musical Instruments, Its Parts under GST classification. This code helps businesses identify Musical Instruments, Its Parts correctly for billing, taxation, and trade purposes. With HSN Chapter 92, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Musical Instruments, Its Parts.
Live Demo Available Today
Experience the power of Expert Accounting
Join our guided walkthrough to see how BUSY can transform your business operations.
Trusted by 6,00,000+ Users
4.6 Google Rating
Sub-chapters under HSN Chapter 92
Following Sub Chapters fall under Musical Instruments, Its Parts:
Sub Chapter
New GST Rate
Old GST Rate
Description
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Pianos, including automatic pianos; harpsi-chords and other keyboard stringed instruments
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Other string musical instruments (for example, guitars, violins, harps)
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Wind musical instruments (for example, keyboard pipe organs, accordions, clarinets, trumpets, bagpipes) other than fairground organs and |mechanical street organs
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Percussion musical instruments (for example, drums, xylophones, cymbols, castanets, maracas)
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Musical instruments, the sound of which is produced, or must be amplified, electrically (for example, organs, guitars, accordions)
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Musical boxes, fairground organs, mechanical street organs, mechanical singing birds, musical saws and other musical instruments not falling within any other heading of this chapter; decoy calls of all kinds; whistles, call horns and other mouth-blown sound signalling instruments
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Parts (for example, mechanisms for musical boxes) and accessories (for example, cards, discs and rolls for mechanical instruments) of musical instruments; metronomes, tuning forks and pitch pipes of all kinds
India’s Trade Performance — HSN Chapter 92 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₹391 Cr
+4.13%
vs FY 2023-24
0.0106% of India’s total exports
India’s Imports
FY 2024-25₹643 Cr
+14.26%
vs FY 2023-24
0.0105% of India’s total imports
Trade Balance
FY 2024-25−₹252 Cr
Trade Deficit
Surplus rank #51 of 97 chapters
At a glance
18.63%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#89
National Export Rank
of 97 chapters by export value, FY 2024-25
+53.59%
Peak Growth Year
FY 2021-22 · strongest single-year move
2.8×
Export Growth · 7Y
₹140.21 Cr → ₹390.88 Cr
India Export-Import Trade Statistics for HSN Chapter 92
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 #91
Balance
−267.43
Exports
140.21 ₹ Cr
0.0061% share
— YoY
Imports
407.64 ₹ Cr
0.0113% share
— YoY
FY 2019-20
Exp. Rank #91
Balance
−163.96
Exports
195.52 ₹ Cr
0.0088% share
+39.45% YoY
Imports
359.48 ₹ Cr
0.0107% share
−11.81% YoY
FY 2020-21
Exp. Rank #89
Balance
−163.11
Exports
187.15 ₹ Cr
0.0087% share
−4.28% YoY
Imports
350.26 ₹ Cr
0.0120% share
−2.56% YoY
FY 2021-22
Exp. Rank #89
Balance
−153.51
Exports
287.45 ₹ Cr
0.0091% share
+53.59% YoY
Imports
440.96 ₹ Cr
0.0096% share
+25.90% YoY
FY 2022-23
Exp. Rank #88
Balance
−182.51
Exports
369.74 ₹ Cr
0.0102% share
+28.63% YoY
Imports
552.25 ₹ Cr
0.0096% share
+25.24% YoY
FY 2023-24
Exp. Rank #89
Balance
−187.17
Exports
375.37 ₹ Cr
0.0104% share
+1.52% YoY
Imports
562.54 ₹ Cr
0.0100% share
+1.86% YoY
FY 2024-25
Exp. Rank #89
Balance
−251.88
Exports
390.88 ₹ Cr
0.0106% share
+4.13% YoY
Imports
642.76 ₹ Cr
0.0105% share
+14.26% YoY
CAGR · 7-Year
Exports
18.63% /yr
Imports
7.89% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Chapter 92 Export-Import Analysis
HSN Chapter 92 Ranked #89 Among All 97 Chapters by Export Value
In FY 2024-25, HSN Chapter 92 ranks #89 out of 97 chapters by total export value. By trade surplus, it ranks #51 of 97.
FY 2021-22 Was the Strongest Growth Year for HSN Chapter 92 Exports
The strongest single-year export movement for HSN Chapter 92 was recorded in FY 2021-22, when exports surged by 53.59% over the prior year.
India Records a Trade Deficit of ₹251.88 Crore in HSN Chapter 92 Goods
In FY 2024-25, India's imports of ₹642.76 Cr exceeded exports of ₹390.88 Cr, resulting in a trade deficit of ₹251.88 Crore — ranking #51 of 97 by surplus magnitude.
Import Growth of 7.89% CAGR Signals Stable Import Dependency for Musical Instruments, Its Parts
India's imports under HSN Chapter 92 have grown at 7.89% CAGR, reaching ₹642.76 Crore in FY 2024-25.
Stop worrying about
HSN & TAX compliance
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
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.