---
title: "HSN Code for Oil-Cake Of Soyabean, Solvent Extracted | HSN 23040020 GST Rate"
description: "Find HSN and GST Rates for 23040020 related to Oil-Cake Of Soyabean, Solvent Extracted with BUSY Accounting - The reliable source for HSN and GST details in India."
canonical: "https://busy.in/hsn/hsn-23040020/"
---

# HSN Code 23040020: Oil-Cake Of Soyabean, Solvent Extracted

- [Section 04: Guide to HSN Section 04](https://busy.in/hsn/section-04/)
- [Chapter 23: Residues and Waste from Food Industries; Animal Fodder](https://busy.in/hsn/chapter-23/)
- [Sub-chapter 2304: Soybean oilcake](https://busy.in/hsn/sub-chapter-2304/)

## GST rates

| Description | CGST | SGST | IGST | CESS |
| --- | --- | --- | --- | --- |
| Oil-cake and other solid residues whether or not ground or in the form of pellets, resulting from the extraction of soyabean oil : Oil-cake of soyabean, solvent extracted (defatted) variety (aquatic feed including shrimp feed and prawn feed, poultry feed & cattle feed, including grass, hay & straw, supplement & husk of pulses, concentrates & additives, wheat bran & de-oiled cake) | 2.5% | 2.5% | 5% | 0% |

## Frequently asked questions

### What products are classified under HSN 23040020 ?

It includes Oil-Cake Of Soyabean, Solvent Extracted

### Any common misclassification issue with Oil-Cake Of Soyabean, Solvent Extracted?

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.

### Does packaging or labelling change the GST for Oil-Cake Of Soyabean, Solvent Extracted?

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.

### How much GST applies to Oil-Cake Of Soyabean, Solvent Extracted?

Under HSN 23040020, Oil-Cake Of Soyabean, Solvent Extracted attracts Varies when sold in taxable form. Describe the form and packaging clearly on the invoice.

### Do e‑way bill and e‑invoice apply for Oil-Cake Of Soyabean, Solvent Extracted?

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.

### Can we claim ITC on inputs used to trade Oil-Cake Of Soyabean, Solvent Extracted?

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 23040020 (FY 2024-25)

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

- Exports: ₹23 Cr (−88.59% YoY) — 0.0006% of India's total exports
- Imports: Nil — 0.0000% of India's total imports
- Trade balance: ₹23 Cr (Surplus); surplus rank #2737 of 12657 HSN codes
- Share of Sub-Chapter 2304: 0.32% of its exports; import side 0.00%
- Rank within Sub-Chapter 2304: #4 of 4 by export value

### Key metrics

- Export CAGR: -41.30% (FY 2018-19 to FY 2024-25, 7 fiscal years)
- National export rank: #4693 of 12657 HSN codes by export value (FY 2024-25)
- Peak growth year: +741.48% in FY 2020-21
- Contribution to Sub-Ch. 2304: 0.32% of its exports (FY 2024-25)

## India export-import trade statistics: HSN Code 23040020

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. 2304 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 2304 | Trade balance | Exp rank |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FY 2018-19 | 555.15 | 0.0243% | — | 7.14% | Nil | 0.0000% | — | 0.00% | +555.15 | #593 |
| FY 2019-20 | 29.70 | 0.0013% | −94.65% | 0.89% | Nil | 0.0000% | — | 0.00% | +29.70 | #3604 |
| FY 2020-21 | 249.92 | 0.0116% | +741.48% | 2.99% | Nil | 0.0000% | — | 0.00% | +249.92 | #1172 |
| FY 2021-22 | 83.14 | 0.0026% | −66.73% | 2.02% | 17.96 | 0.0004% | — | 0.60% | +65.18 | #2660 |
| FY 2022-23 | 271.10 | 0.0075% | +226.08% | 3.90% | Nil | 0.0000% | −100.00% | 0.00% | +271.10 | #1422 |
| FY 2023-24 | 199.12 | 0.0055% | −26.55% | 2.32% | Nil | 0.0000% | — | 0.00% | +199.12 | #1786 |
| FY 2024-25 | 22.72 | 0.0006% | −88.59% | 0.32% | Nil | 0.0000% | — | 0.00% | +22.72 | #4693 |

- CAGR (7-year): exports -41.30%/yr, imports —/yr (consistently Surplus)

## Key trade insights: HSN Code 23040020 export-import analysis

### Export decline: -41.30% CAGR over 7 years

India's exports under HSN Code 23040020 have declined at a compound annual rate of -41.30% over 7 fiscal years, falling from ₹555.15 Crore in FY 2018-19 to ₹22.72 Crore in FY 2024-25.

### HSN Code 23040020 ranked #4693 among all 12657 HSN codes by export value

In FY 2024-25, HSN Code 23040020 ranks #4693 out of 12657 HSN codes by total export value. Within Sub-Chapter 2304, it ranks #4 of 4. By trade surplus, it ranks #2737 of 12657.

### FY 2020-21 was the strongest growth year for HSN Code 23040020 exports

The strongest single-year export movement for HSN Code 23040020 was recorded in FY 2020-21, when exports surged by 741.48% over the prior year.

### India maintains a trade surplus of ₹22.72 Crore in HSN Code 23040020 goods

In FY 2024-25, India's exports of ₹22.72 Cr exceeded imports of ₹0.00 Cr, resulting in a trade surplus of ₹22.72 Crore — ranking #2737 of 12657 by surplus magnitude.

### HSN Code 23040020 contributes 0.32% of Sub-Chapter 2304 exports — ranked #4

Among the 4 HSN codes under Sub-Chapter 2304, HSN Code 23040020 ranks #4 by export value — accounting for 0.32% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.00% share.

## Related HSN Codes in Sub-Chapter 2304

Ranked by export value (FY 2024-25).

| Rank | HSN Code | Exports (FY 2024-25) |
| --- | --- | --- |
| #1 | [HSN Code 23040030: Soyabean Meal, Solvent Extracted, Defatted](https://busy.in/hsn/hsn-23040030/) | ₹6,344 Cr |
| #2 | [HSN Code 23040090: Oilcake From Soybean Extraction](https://busy.in/hsn/hsn-23040090/) | ₹527 Cr |
| #3 | [HSN Code 23040010: Sodium Naphthionate (Aromatic Monoamine)](https://busy.in/hsn/hsn-23040010/) | ₹317 Cr |
| #4 | HSN Code 23040020: Oil-Cake Of Soyabean, Solvent Extracted (this hsn code) | ₹23 Cr |