---
title: "HSN Code for Fish Lipid Oil | HSN 15042020 GST Rate"
description: "Find HSN and GST Rates for 15042020 related to Fish Lipid Oil with BUSY Accounting - The reliable source for HSN and GST details in India."
canonical: "https://busy.in/hsn/hsn-15042020/"
---

# HSN Code 15042020: Fish Lipid Oil

- [Section 03: Guide to HSN Section 03](https://busy.in/hsn/section-03/)
- [Chapter 15: Animal or Vegetable Fats, Oils and Their Cleavage Products](https://busy.in/hsn/chapter-15/)
- [Sub-chapter 1504: Fish oils & their fractions](https://busy.in/hsn/sub-chapter-1504/)

## GST rates

| Description | CGST | SGST | IGST | CESS |
| --- | --- | --- | --- | --- |
| Fats and oils and their fractions of fish, other than liver oils : Fish lipid oil | 6% | 6% | 12% | 0% |

## Frequently asked questions

### What products are classified under HSN 15042020 ?

It includes Fish Lipid Oil

### Any common misclassification issue with Fish Lipid Oil?

Use the exact HSN and the correct form (fresh/chilled vs. frozen/dried; PPL vs. not). Apply the rate per line to avoid wrong tax collection.

### How much GST applies to Fish Lipid Oil?

Under HSN 15042020, Fish Lipid Oil attracts Varies when sold in taxable form. Describe the form and packaging clearly on the invoice.

### How should mixed supplies be billed when Fish Lipid Oil is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Fish Lipid Oil; Nil for exempt items if applicable).

### Does packaging or labelling change the GST for Fish Lipid Oil?

For many agri/food items, GST applies at 5% when they are not fresh/chilled and are sold as pre‑packaged & labelled. Loose or fresh/chilled forms may be Nil.

### Can we claim ITC on inputs used to trade Fish Lipid Oil?

If your outward supply is taxable (5%/12% etc.), eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

## India's trade performance: HSN Code 15042020 (FY 2024-25)

Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25).

- Exports: ₹44 Cr (−56.27% YoY) — 0.0012% of India's total exports
- Imports: ₹128 Cr (+1.34% YoY) — 0.0021% of India's total imports
- Trade balance: −₹84 Cr (Deficit); surplus rank #10655 of 12657 HSN codes
- Share of Sub-Chapter 1504: 10.87% of its exports; import side 62.12%
- Rank within Sub-Chapter 1504: #2 of 8 by export value; import-side #1

### Key metrics

- Export CAGR: 87.78% (FY 2018-19 to FY 2024-25, 7 fiscal years)
- National export rank: #3802 of 12657 HSN codes by export value (FY 2024-25)
- Peak growth year: +1,473.63% in FY 2023-24
- Contribution to Sub-Ch. 1504: 10.87% of its exports (FY 2024-25)

## India export-import trade statistics: HSN Code 15042020

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. 1504 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 1504 | Trade balance | Exp rank |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FY 2018-19 | 1.00 | 0.0000% | — | 1.93% | 52.52 | 0.0015% | — | 81.53% | −51.52 | #7626 |
| FY 2019-20 | 3.43 | 0.0002% | +243.00% | 17.02% | 71.87 | 0.0021% | +36.84% | 83.30% | −68.44 | #6299 |
| FY 2020-21 | < ₹1 Crore | 0.0000% | −74.34% | 11.92% | 55.73 | 0.0019% | −22.46% | 77.96% | −54.85 | #7767 |
| FY 2021-22 | 2.93 | 0.0001% | +232.95% | 14.26% | 80.56 | 0.0018% | +44.55% | 72.02% | −77.63 | #6924 |
| FY 2022-23 | 6.37 | 0.0002% | +117.41% | 0.64% | 52.40 | 0.0009% | −34.96% | 55.37% | −46.03 | #6193 |
| FY 2023-24 | 100.24 | 0.0028% | +1,473.63% | 17.49% | 126.13 | 0.0022% | +140.71% | 64.41% | −25.89 | #2577 |
| FY 2024-25 | 43.84 | 0.0012% | −56.27% | 10.87% | 127.82 | 0.0021% | +1.34% | 62.12% | −83.98 | #3802 |

- CAGR (7-year): exports 87.78%/yr, imports 15.98%/yr (consistently Deficit)

## Key trade insights: HSN Code 15042020 export-import analysis

### Consistent export growth: 87.78% CAGR over 7 years

India's exports under HSN Code 15042020 have grown at a compound annual rate of 87.78% over 7 fiscal years, rising from ₹1.00 Crore in FY 2018-19 to ₹43.84 Crore in FY 2024-25.

### HSN Code 15042020 ranked #3802 among all 12657 HSN codes by export value

In FY 2024-25, HSN Code 15042020 ranks #3802 out of 12657 HSN codes by total export value. Within Sub-Chapter 1504, it ranks #2 of 8. By trade surplus, it ranks #10655 of 12657.

### FY 2023-24 was the strongest growth year for HSN Code 15042020 exports

The strongest single-year export movement for HSN Code 15042020 was recorded in FY 2023-24, when exports surged by 1,473.63% over the prior year.

### India records a trade deficit of ₹83.98 Crore in HSN Code 15042020 goods

In FY 2024-25, India's imports of ₹127.82 Cr exceeded exports of ₹43.84 Cr, resulting in a trade deficit of ₹83.98 Crore — ranking #10655 of 12657 by surplus magnitude.

### Import growth of 15.98% CAGR signals rising demand for Fish Lipid Oil

India's imports under HSN Code 15042020 have grown at 15.98% CAGR, reaching ₹127.82 Crore in FY 2024-25.

### HSN Code 15042020 contributes 10.87% of Sub-Chapter 1504 exports — ranked #2

Among the 8 HSN codes under Sub-Chapter 1504, HSN Code 15042020 ranks #2 by export value — accounting for 10.87% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 62.12% share (rank #1).

## Related HSN Codes in Sub-Chapter 1504

Ranked by export value (FY 2024-25).

| Rank | HSN Code | Exports (FY 2024-25) |
| --- | --- | --- |
| #1 | [HSN Code 15042010: Fish Body Oil](https://busy.in/hsn/hsn-15042010/) | ₹354 Cr |
| #2 | HSN Code 15042020: Fish Lipid Oil (this hsn code) | ₹44 Cr |
| #3 | [HSN Code 15042090: Other Fish Oils](https://busy.in/hsn/hsn-15042090/) | ₹5 Cr |
| #4 | [HSN Code 15041010: Cod liver oil](https://busy.in/hsn/hsn-15041010/) | < ₹1 Crore |
| #5 | [HSN Code 15041099: Fish liver oils, other](https://busy.in/hsn/hsn-15041099/) | < ₹1 Crore |
| #6 | [HSN Code 15042030: Sperm Oil](https://busy.in/hsn/hsn-15042030/) | < ₹1 Crore |
| — | [HSN Code 15041091: Fish liver oils: Squid liver oil](https://busy.in/hsn/hsn-15041091/) | Nil |
| — | [HSN Code 15043000: Marine mammal fats](https://busy.in/hsn/hsn-15043000/) | Nil |