HSN Code 15071000: Crude oil, whether or not degummed
HSN Code 15071000 represents Crude oil, whether or not degummed under GST classification. This code helps businesses identify Crude oil, whether or not degummed correctly for billing, taxation, and trade. With HSN Code 15071000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Crude oil, whether or not degummed.
Experience the power of Expert Accounting
Join our guided walkthrough to see how BUSY can transform your business operations.
Description of Goods for HSN Code 15071000
HSN Code 15071000 relates to the following description.
What does HSN Code 15071000 not include?
Crude oil, whether or not degummed does not include products with the following descriptions.
Other : Edible grade
Other : Other
India’s Trade Performance — HSN Code 15071000 in FY 2024-25
India’s Exports
FY 2024-25₹5 Cr
0.0001% of India’s total exports
India’s Imports
FY 2024-25₹39,451 Cr
0.6493% of India’s total imports
Trade Balance
FY 2024-25−₹39,446 Cr
Surplus rank #12644 of 12657 HSN codes
% of Sub-Chapter 1507
FY 2024-252.39%
Share of Sub-Chapter 1507’s total exports in FY 2024-25
Import side: 92.20% of Sub-Chapter 1507’s imports
Rank Within Sub-Chapter 1507
FY 2024-25#2 of 3
Position by export value among HSN codes in Sub-Chapter 1507
Import-side rank: #1 of 3
At a glance
#6559
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+683.64%
Peak Growth Year
FY 2023-24 · strongest single-year move
2.39%
Contribution to Sub-Ch. 1507
Share of Sub-Chapter 1507 exports in FY 2024-25
India Export-Import Trade Statistics for HSN Code 15071000
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−16,372.65
Exports
Nil ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 1507
Imports
16,372.65 ₹ Cr
0.4567% share
— YoY
98.96% of Sub-Ch. 1507
Balance
−16,689.69
Exports
16.30 ₹ Cr
0.0007% share
— YoY
14.68% of Sub-Ch. 1507
Imports
16,705.99 ₹ Cr
0.4990% share
+2.04% YoY
96.44% of Sub-Ch. 1507
Balance
−20,999.54
Exports
27.56 ₹ Cr
0.0013% share
+69.08% YoY
18.49% of Sub-Ch. 1507
Imports
21,027.10 ₹ Cr
0.7216% share
+25.87% YoY
90.82% of Sub-Ch. 1507
Balance
−36,726.45
Exports
1.12 ₹ Cr
0.0000% share
−95.94% YoY
0.72% of Sub-Ch. 1507
Imports
36,727.57 ₹ Cr
0.8036% share
+74.67% YoY
88.98% of Sub-Ch. 1507
Balance
−46,495.38
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−50.89% YoY
0.23% of Sub-Ch. 1507
Imports
46,495.93 ₹ Cr
0.8087% share
+26.60% YoY
98.39% of Sub-Ch. 1507
Balance
−27,225.46
Exports
4.31 ₹ Cr
0.0001% share
+683.64% YoY
2.50% of Sub-Ch. 1507
Imports
27,229.77 ₹ Cr
0.4849% share
−41.44% YoY
99.76% of Sub-Ch. 1507
Balance
−39,445.93
Exports
5.22 ₹ Cr
0.0001% share
+21.11% YoY
2.39% of Sub-Ch. 1507
Imports
39,451.15 ₹ Cr
0.6493% share
+44.88% YoY
92.20% of Sub-Ch. 1507
CAGR · 7-Year
Exports
—
Imports
15.79% /yr
reference, FY 2024-25
Export
₹218.70 Cr
Import
₹42,789.85 Cr
Trade Balance
−42,571.15
Key Trade Insights: HSN Code 15071000 Export-Import Analysis
Export Snapshot for HSN Code 15071000
India exported ₹5.22 Crore worth of Crude oil, whether or not degummed in FY 2024-25. Multi-year trend data is being compiled for this hsn code.
HSN Code 15071000 Ranked #6559 Among All 12657 HSN codes by Export Value
In FY 2024-25, HSN Code 15071000 ranks #6559 out of 12657 HSN codes by total export value. Within Sub-Chapter 1507, it ranks #2 of 3. By trade surplus, it ranks #12644 of 12657.
FY 2023-24 Was the Strongest Growth Year for HSN Code 15071000 Exports
The strongest single-year export movement for HSN Code 15071000 was recorded in FY 2023-24, when exports surged by 683.64% over the prior year.
India Records a Trade Deficit of ₹39,445.93 Crore in HSN Code 15071000 Goods
In FY 2024-25, India's imports of ₹39,451.15 Cr exceeded exports of ₹5.22 Cr, resulting in a trade deficit of ₹39,445.93 Crore — ranking #12644 of 12657 by surplus magnitude.
Import Growth of 15.79% CAGR Signals Rising Demand for Crude oil, whether or not degummed
India's imports under HSN Code 15071000 have grown at 15.79% CAGR, reaching ₹39,451.15 Crore in FY 2024-25.
HSN Code 15071000 Contributes 2.39% of Sub-Chapter 1507 Exports — Ranked #2
Among the 3 HSN codes under Sub-Chapter 1507, HSN Code 15071000 ranks #2 by export value — accounting for 2.39% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 92.20% share (rank #1).
Stop worrying about
HSN & TAX compliance
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Frequently Asked Questions
Clear answers to common queries about HSN Code 15071000 and GST compliance.
What products are classified under HSN 15071000 ?
It includes Crude oil, whether or not degummed
Any common misclassification issue with Crude oil, whether or not degummed?
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 Crude oil, whether or not degummed?
Under HSN 15071000, Crude oil, whether or not degummed attracts Varies when sold in taxable form. Describe the form and packaging clearly on the invoice.
How should mixed supplies be billed when Crude oil, whether or not degummed is sold with other items?
Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Crude oil, whether or not degummed; Nil for exempt items if applicable).
Do e‑way bill and e‑invoice apply for Crude oil, whether or not degummed?
Generate an e‑way bill if the consignment value exceeds ₹50,000 (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.
Does packaging or labelling change the GST for Crude oil, whether or not degummed?
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.