HSN Code 23040030: Soyabean Meal, Solvent Extracted, Defatted

HSN Code 23040030 represents Soyabean Meal, Solvent Extracted, Defatted under GST classification. This code helps businesses identify Soyabean Meal, Solvent Extracted, Defatted correctly for billing, taxation, and trade. With HSN Code 23040030, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Soyabean Meal, Solvent Extracted, Defatted.

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Description of Goods for HSN Code 23040030

HSN Code 23040030 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 : 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)

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 23040030 not include?

Soyabean Meal, Solvent Extracted, Defatted 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 23040020

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)

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)

India’s Trade Performance — HSN Code 23040030 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

₹6,344 Cr

−9.22% vs FY 2023-24

0.1724% of India’s total exports

India’s Imports

FY 2024-25

₹49 Cr

−67.41% vs FY 2023-24

0.0008% of India’s total imports

Trade Balance

FY 2024-25

₹6,295 Cr

Trade Surplus

Surplus rank #52 of 12657 HSN codes

% of Sub-Chapter 2304

FY 2024-25

87.99%

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

Import side: 77.56% of Sub-Chapter 2304’s imports

Rank Within Sub-Chapter 2304

FY 2024-25

#1 of 4

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

Import-side rank: #1 of 4

At a glance

5.34%

Export CAGR

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

#73

National Export Rank

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

+227.84%

Peak Growth Year

FY 2020-21 · strongest single-year move

87.99%

Contribution to Sub-Ch. 2304

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

India Export-Import Trade Statistics for HSN Code 23040030

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 #60

Balance

+4,643.52

Exports

4,643.68 ₹ Cr

0.2032% share

— YoY

59.73% of Sub-Ch. 2304

Imports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.14% of Sub-Ch. 2304

FY 2019-20 Exp. Rank #267

Balance

+1,197.00

Exports

1,197.37 ₹ Cr

0.0544% share

−74.22% YoY

35.73% of Sub-Ch. 2304

Imports

< ₹1 Crore ₹ Cr

0.0000% share

+131.25% YoY

5.60% of Sub-Ch. 2304

FY 2020-21 Exp. Rank #76

Balance

+3,862.63

Exports

3,925.42 ₹ Cr

0.1825% share

+227.84% YoY

47.00% of Sub-Ch. 2304

Imports

62.79 ₹ Cr

0.0022% share

+16,870.27% YoY

64.98% of Sub-Ch. 2304

FY 2021-22 Exp. Rank #245

Balance

−811.86

Exports

1,954.20 ₹ Cr

0.0623% share

−50.22% YoY

47.39% of Sub-Ch. 2304

Imports

2,766.06 ₹ Cr

0.0605% share

+4,305.26% YoY

93.03% of Sub-Ch. 2304

FY 2022-23 Exp. Rank #111

Balance

+3,346.81

Exports

4,180.32 ₹ Cr

0.1155% share

+113.91% YoY

60.09% of Sub-Ch. 2304

Imports

833.51 ₹ Cr

0.0145% share

−69.87% YoY

89.94% of Sub-Ch. 2304

FY 2023-24 Exp. Rank #65

Balance

+6,837.10

Exports

6,988.10 ₹ Cr

0.1931% share

+67.17% YoY

81.38% of Sub-Ch. 2304

Imports

151.00 ₹ Cr

0.0027% share

−81.88% YoY

87.99% of Sub-Ch. 2304

FY 2024-25 Exp. Rank #73

Balance

+6,294.63

Exports

6,343.84 ₹ Cr

0.1724% share

−9.22% YoY

87.99% of Sub-Ch. 2304

Imports

49.21 ₹ Cr

0.0008% share

−67.41% YoY

77.56% of Sub-Ch. 2304

CAGR · 7-Year

Exports

5.34% /yr

Imports

159.81% /yr

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 23040030 Export-Import Analysis

Consistent Export Growth: 5.34% CAGR Over 7 Years

India's exports under HSN Code 23040030 have grown at a compound annual rate of 5.34% over 7 fiscal years, rising from ₹4,643.68 Crore in FY 2018-19 to ₹6,343.84 Crore in FY 2024-25.

HSN Code 23040030 Ranked #73 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 23040030 ranks #73 out of 12657 HSN codes by total export value. Within Sub-Chapter 2304, it ranks #1 of 4. By trade surplus, it ranks #52 of 12657.

FY 2020-21 Was the Strongest Growth Year for HSN Code 23040030 Exports

The strongest single-year export movement for HSN Code 23040030 was recorded in FY 2020-21, when exports surged by 227.84% over the prior year.

India Maintains a Trade Surplus of ₹6,294.63 Crore in HSN Code 23040030 Goods

In FY 2024-25, India's exports of ₹6,343.84 Cr exceeded imports of ₹49.21 Cr, resulting in a trade surplus of ₹6,294.63 Crore — ranking #52 of 12657 by surplus magnitude.

Import Growth of 159.81% CAGR Signals Rising Demand for Soyabean Meal, Solvent Extracted, Defatted

India's imports under HSN Code 23040030 have grown at 159.81% CAGR, reaching ₹49.21 Crore in FY 2024-25.

HSN Code 23040030 Contributes 87.99% of Sub-Chapter 2304 Exports — Ranked #1

Among the 4 HSN codes under Sub-Chapter 2304, HSN Code 23040030 ranks #1 by export value — accounting for 87.99% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 77.56% share (rank #1).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 23040030 and GST compliance.

What products are classified under HSN 23040030 ?

It includes Soyabean Meal, Solvent Extracted, Defatted

How much GST applies to Soyabean Meal, Solvent Extracted, Defatted?

Under HSN 23040030, Soyabean Meal, Solvent Extracted, Defatted attracts Varies when sold in taxable form. Describe the form and packaging clearly on the invoice.

Any common misclassification issue with Soyabean Meal, Solvent Extracted, Defatted?

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 Soyabean Meal, Solvent Extracted, Defatted?

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 should mixed supplies be billed when Soyabean Meal, Solvent Extracted, Defatted is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Soyabean Meal, Solvent Extracted, Defatted; Nil for exempt items if applicable).

Do e‑way bill and e‑invoice apply for Soyabean Meal, Solvent Extracted, Defatted?

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.

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.