--- title: "HSN Code for Oilcake From Soybean Extraction | HSN 23040090 GST Rate" description: "Find HSN and GST Rates for 23040090 related to Oilcake From Soybean Extraction with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-23040090/" --- # HSN Code 23040090: Oilcake From Soybean Extraction - [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 : 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) | 2.5% | 2.5% | 5% | 0% | ## Frequently asked questions ### What products are classified under HSN 23040090 ? It includes Oilcake From Soybean Extraction ### How much GST applies to Oilcake From Soybean Extraction? Under HSN 23040090, Oilcake From Soybean Extraction attracts Varies when sold in taxable form. Describe the form and packaging clearly on the invoice. ### Any common misclassification issue with Oilcake From Soybean Extraction? 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 Oilcake From Soybean Extraction? 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 Oilcake From Soybean Extraction is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Oilcake From Soybean Extraction; Nil for exempt items if applicable). ### Do e‑way bill and e‑invoice apply for Oilcake From Soybean Extraction? 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 Oilcake From Soybean Extraction? 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 23040090 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹527 Cr (−51.33% YoY) — 0.0143% of India's total exports - Imports: ₹11 Cr (+168.33% YoY) — 0.0002% of India's total imports - Trade balance: ₹516 Cr (Surplus); surplus rank #617 of 12657 HSN codes - Share of Sub-Chapter 2304: 7.31% of its exports; import side 16.96% - Rank within Sub-Chapter 2304: #2 of 4 by export value; import-side #2 ### Key metrics - Export CAGR: -9.07% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #972 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +151.57% in FY 2020-21 - Contribution to Sub-Ch. 2304: 7.31% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 23040090 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 | 932.10 | 0.0408% | — | 11.99% | 2.38 | 0.0001% | — | 2.07% | +929.72 | #358 | | FY 2019-20 | 447.07 | 0.0203% | −52.04% | 13.34% | 2.50 | 0.0001% | +5.04% | 37.82% | +444.57 | #715 | | FY 2020-21 | 1,124.69 | 0.0523% | +151.57% | 13.47% | 7.10 | 0.0002% | +184.00% | 7.35% | +1,117.59 | #304 | | FY 2021-22 | 585.36 | 0.0187% | −47.95% | 14.20% | 16.23 | 0.0004% | +128.59% | 0.55% | +569.13 | #745 | | FY 2022-23 | 1,232.93 | 0.0341% | +110.63% | 17.72% | 4.38 | 0.0001% | −73.01% | 0.47% | +1,228.55 | #404 | | FY 2023-24 | 1,082.36 | 0.0299% | −12.21% | 12.60% | 4.01 | 0.0001% | −8.45% | 2.34% | +1,078.35 | #477 | | FY 2024-25 | 526.78 | 0.0143% | −51.33% | 7.31% | 10.76 | 0.0002% | +168.33% | 16.96% | +516.02 | #972 | - CAGR (7-year): exports -9.07%/yr, imports 28.59%/yr (consistently Surplus) ## Key trade insights: HSN Code 23040090 export-import analysis ### Export decline: -9.07% CAGR over 7 years India's exports under HSN Code 23040090 have declined at a compound annual rate of -9.07% over 7 fiscal years, falling from ₹932.10 Crore in FY 2018-19 to ₹526.78 Crore in FY 2024-25. ### HSN Code 23040090 ranked #972 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 23040090 ranks #972 out of 12657 HSN codes by total export value. Within Sub-Chapter 2304, it ranks #2 of 4. By trade surplus, it ranks #617 of 12657. ### FY 2020-21 was the strongest growth year for HSN Code 23040090 exports The strongest single-year export movement for HSN Code 23040090 was recorded in FY 2020-21, when exports surged by 151.57% over the prior year. ### India maintains a trade surplus of ₹516.02 Crore in HSN Code 23040090 goods In FY 2024-25, India's exports of ₹526.78 Cr exceeded imports of ₹10.76 Cr, resulting in a trade surplus of ₹516.02 Crore — ranking #617 of 12657 by surplus magnitude. ### Import growth of 28.59% CAGR signals rising demand for Oilcake From Soybean Extraction India's imports under HSN Code 23040090 have grown at 28.59% CAGR, reaching ₹10.76 Crore in FY 2024-25. ### HSN Code 23040090 contributes 7.31% of Sub-Chapter 2304 exports — ranked #2 Among the 4 HSN codes under Sub-Chapter 2304, HSN Code 23040090 ranks #2 by export value — accounting for 7.31% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 16.96% share (rank #2). ## 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 (this hsn code) | ₹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](https://busy.in/hsn/hsn-23040020/) | ₹23 Cr |