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

HSN Code 23040020 represents Oil-Cake Of Soyabean, Solvent Extracted under GST classification. This code helps businesses identify Oil-Cake Of Soyabean, Solvent Extracted correctly for billing, taxation, and trade. With HSN Code 23040020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Oil-Cake Of Soyabean, Solvent Extracted.

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Description of Goods for HSN Code 23040020

HSN Code 23040020 relates to the following description.

Description of Goods

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)

Chapter

23 - Residues and waste from the food industries; prepared animal fodder

Sub Chapter

2304 - Oil-cake and other solid residues whether or not ground or in the form of pellets, resulting from the extraction of soyabean oil

CGST

2.5%

SGST

2.5%

IGST

5%

CESS

0%

What does HSN Code 23040020 not include?

Oil-Cake Of Soyabean, Solvent Extracted does not include products with the following descriptions.

HSN Code 23040010

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 and oil-cake meal of soyabean, expeller 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)

HSN Code 23040030

Oil-cake and other solid residues whether or not ground or in the form of pellets, resulting from the extraction of soyabean oil : Meal of soyabean, solvent extracted (defatted) (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)

HSN Code 23040090

Oil-cake and other solid residues whether or not ground or in the form of pellets, resulting from the extraction of soyabean oil : Other (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)

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India’s Trade Performance — HSN Code 23040020 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

₹23 Cr

−88.59% vs FY 2023-24

0.0006% of India’s total exports

India’s Imports

FY 2024-25

Nil

First year of recorded data

0.0000% of India’s total imports

Trade Balance

FY 2024-25

₹23 Cr

Trade Surplus

Surplus rank #2737 of 12657 HSN codes

% of Sub-Chapter 2304

FY 2024-25

0.32%

Share of Sub-Chapter 2304’s total exports in FY 2024-25

Import side: 0.00% of Sub-Chapter 2304’s imports

Rank Within Sub-Chapter 2304

FY 2024-25

#4 of 4

Position by export value among HSN codes in Sub-Chapter 2304

At a glance

−41.30%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#4693

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+741.48%

Peak Growth Year

FY 2020-21 · strongest single-year move

0.32%

Contribution to Sub-Ch. 2304

Share of Sub-Chapter 2304 exports in FY 2024-25

India Export-Import Trade Statistics for 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 2018-19 Exp. Rank #593

Balance

+555.15

Exports

555.15 ₹ Cr

0.0243% share

— YoY

7.14% of Sub-Ch. 2304

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2304

FY 2019-20 Exp. Rank #3604

Balance

+29.70

Exports

29.70 ₹ Cr

0.0013% share

−94.65% YoY

0.89% of Sub-Ch. 2304

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2304

FY 2020-21 Exp. Rank #1172

Balance

+249.92

Exports

249.92 ₹ Cr

0.0116% share

+741.48% YoY

2.99% of Sub-Ch. 2304

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2304

FY 2021-22 Exp. Rank #2660

Balance

+65.18

Exports

83.14 ₹ Cr

0.0026% share

−66.73% YoY

2.02% of Sub-Ch. 2304

Imports

17.96 ₹ Cr

0.0004% share

— YoY

0.60% of Sub-Ch. 2304

FY 2022-23 Exp. Rank #1422

Balance

+271.10

Exports

271.10 ₹ Cr

0.0075% share

+226.08% YoY

3.90% of Sub-Ch. 2304

Imports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Sub-Ch. 2304

FY 2023-24 Exp. Rank #1786

Balance

+199.12

Exports

199.12 ₹ Cr

0.0055% share

−26.55% YoY

2.32% of Sub-Ch. 2304

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2304

FY 2024-25 Exp. Rank #4693

Balance

+22.72

Exports

22.72 ₹ Cr

0.0006% share

−88.59% YoY

0.32% of Sub-Ch. 2304

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2304

CAGR · 7-Year

Exports

−41.30% /yr

Imports

—

Consistently Surplus
Sub-Chapter 2304 total

reference, FY 2024-25

Export

₹7,210.00 Cr

Import

₹63.45 Cr

Trade Balance

+7,146.55

Peak export growth year Latest available data Not available YoY = change vs previous FY

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.

Frequently Asked Questions

Clear answers to common queries about HSN Code 23040020 and GST compliance.

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.

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.