--- title: "HSN Code for Liquid Milk & Cream (Not Concentrated or Sweetened) | HSN 04021010 GST Rate" description: "Find HSN and GST Rates for 04021010 related to Liquid Milk & Cream (Not Concentrated or Sweetened) with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-04021010/" --- # HSN Code 04021010: Liquid Milk & Cream (Not Concentrated or Sweetened) - [Section 01: Guide to HSN Section 01](https://busy.in/hsn/section-01/) - [Chapter 04: Dairy, Eggs, Honey and Animal-Origin Products](https://busy.in/hsn/chapter-04/) - [Sub-chapter 0402: Ground-nuts & fractions](https://busy.in/hsn/sub-chapter-0402/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | In powder, granules or other solid forms, of a fat content, by weight not exceeding 1.5% : Skimmed Milk | 2.5% | 2.5% | 5% | 0% | ## Frequently asked questions ### What products are classified under HSN 4021010 ? It includes Liquid Milk & Cream (Not Concentrated or Sweetened) ### How much GST applies to Liquid Milk & Cream (Not Concentrated or Sweetened)? Under HSN 04021010, Liquid Milk & Cream (Not Concentrated or Sweetened) attracts TBD subject to its exact form and packaging. Use the correct HSN and describe the form clearly on the invoice. ### Is ITC allowed for costs used to trade Liquid Milk & Cream (Not Concentrated or Sweetened)? If your outward supply is taxable (e.g., 5% or 12%), eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How to bill mixed items when Liquid Milk & Cream (Not Concentrated or Sweetened) is sold with exempt goods? Use separate invoice lines per HSN. Apply TBD for Liquid Milk & Cream (Not Concentrated or Sweetened) and Nil for exempt lines. This avoids misclassification and wrong tax collection. ### Any import/export nuance for Liquid Milk & Cream (Not Concentrated or Sweetened)? Exports are zero‑rated. Imports may draw customs duties; domestic GST follows the schedule for the item’s form/packaging. ### Are e‑way bill and e‑invoice required for Liquid Milk & Cream (Not Concentrated or Sweetened)? e‑Way bill is needed for consignment value above ₹50,000 unless exempted. e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies. ### Does ‘pre‑packaged & labelled’ change GST on Liquid Milk & Cream (Not Concentrated or Sweetened)? Yes. When Liquid Milk & Cream (Not Concentrated or Sweetened) is not fresh/chilled and is sold in pre‑packaged & labelled packs, GST is 5%. If it is not pre‑packaged & labelled, it stays Nil. ## India's trade performance: HSN Code 04021010 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹154 Cr (+45.04% YoY) — 0.0042% of India's total exports - Imports: ₹4 Cr (−80.86% YoY) — 0.0001% of India's total imports - Trade balance: ₹149 Cr (Surplus); surplus rank #1340 of 12657 HSN codes - Share of Sub-Chapter 0402: 58.41% of its exports; import side 39.09% - Rank within Sub-Chapter 0402: #1 of 13 by export value; import-side #1 ### Key metrics - Export CAGR: -19.15% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #2129 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +1,210.80% in FY 2020-21 - Contribution to Sub-Ch. 0402: 58.41% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 04021010 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 Sub-Ch. 0402 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 0402 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 549.54 | 0.0241% | — | 84.95% | 5.31 | 0.0001% | — | 62.11% | +544.23 | #599 | | FY 2019-20 | 20.00 | 0.0009% | −96.36% | 18.52% | 23.23 | 0.0007% | +337.48% | 93.44% | −3.23 | #4108 | | FY 2020-21 | 262.16 | 0.0122% | +1,210.80% | 73.81% | 7.45 | 0.0003% | −67.93% | 64.39% | +254.71 | #1126 | | FY 2021-22 | 994.02 | 0.0317% | +279.17% | 91.60% | 6.88 | 0.0002% | −7.65% | 99.14% | +987.14 | #467 | | FY 2022-23 | 498.06 | 0.0138% | −49.89% | 86.01% | 16.23 | 0.0003% | +135.90% | 73.24% | +481.83 | #929 | | FY 2023-24 | 105.84 | 0.0029% | −78.75% | 53.90% | 21.89 | 0.0004% | +34.87% | 80.45% | +83.95 | #2507 | | FY 2024-25 | 153.51 | 0.0042% | +45.04% | 58.41% | 4.19 | 0.0001% | −80.86% | 39.09% | +149.32 | #2129 | - CAGR (7-year): exports -19.15%/yr, imports -3.87%/yr (consistently Surplus) ## Key trade insights: HSN Code 04021010 export-import analysis ### Export decline: -19.15% CAGR over 7 years India's exports under HSN Code 04021010 have declined at a compound annual rate of -19.15% over 7 fiscal years, falling from ₹549.54 Crore in FY 2018-19 to ₹153.51 Crore in FY 2024-25. ### HSN Code 04021010 ranked #2129 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 04021010 ranks #2129 out of 12657 HSN codes by total export value. Within Sub-Chapter 0402, it ranks #1 of 13. By trade surplus, it ranks #1340 of 12657. ### FY 2020-21 was the strongest growth year for HSN Code 04021010 exports The strongest single-year export movement for HSN Code 04021010 was recorded in FY 2020-21, when exports surged by 1,210.80% over the prior year. ### India maintains a trade surplus of ₹149.32 Crore in HSN Code 04021010 goods In FY 2024-25, India's exports of ₹153.51 Cr exceeded imports of ₹4.19 Cr, resulting in a trade surplus of ₹149.32 Crore — ranking #1340 of 12657 by surplus magnitude. ### Import growth of -3.87% CAGR signals stable import dependency for Liquid Milk & Cream (Not Concentrated or Sweetened) India's imports under HSN Code 04021010 have grown at -3.87% CAGR, reaching ₹4.19 Crore in FY 2024-25. ### HSN Code 04021010 contributes 58.41% of Sub-Chapter 0402 exports — ranked #1 Among the 13 HSN codes under Sub-Chapter 0402, HSN Code 04021010 ranks #1 by export value — accounting for 58.41% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 39.09% share (rank #1). ## Related HSN Codes in Sub-Chapter 0402 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | HSN Code 04021010: Liquid Milk & Cream (Not Concentrated or Sweetened) (this hsn code) | ₹154 Cr | | #2 | [HSN Code 04022990: Other Milk Powder (>1.5% Fat)](https://busy.in/hsn/hsn-04022990/) | ₹37 Cr | | #3 | [HSN Code 04029990: Other\|Other \|Other](https://busy.in/hsn/hsn-04029990/) | ₹21 Cr | | #4 | [HSN Code 04022100: Unsweetened High-Fat Milk Powder](https://busy.in/hsn/hsn-04022100/) | ₹19 Cr | | #5 | [HSN Code 04022920: Concentrated & Sweetened Milk & Cream](https://busy.in/hsn/hsn-04022920/) | ₹13 Cr | | #6 | [HSN Code 04021020: Baby Milk Food (<=1.5% Fat)](https://busy.in/hsn/hsn-04021020/) | ₹9 Cr | | #7 | [HSN Code 04021090: Other Milk Powder (≤1.5% Fat)](https://busy.in/hsn/hsn-04021090/) | ₹5 Cr | | #8 | [HSN Code 04029190: Non-sweetened milk products](https://busy.in/hsn/hsn-04029190/) | ₹4 Cr | | #9 | [HSN Code 04022910: Concentrated Milk & Cream (Unsweetened)](https://busy.in/hsn/hsn-04022910/) | ₹1 Cr | | #10 | [HSN Code 04029920: Other \| Other \| Condensed Milk](https://busy.in/hsn/hsn-04029920/) | ₹1 Cr |