HSN Code 24039960: Tobacco extracts and essence

HSN Code 24039960 represents Tobacco extracts and essence under GST classification. This code helps businesses identify Tobacco extracts and essence correctly for billing, taxation, and trade. With HSN Code 24039960, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Tobacco extracts and essence.

Live Demo Available Today

Experience the power of Expert Accounting

Join our guided walkthrough to see how BUSY can transform your business operations.

Trusted by 6,00,000+ Users
4.6 Google Rating
+91
expand_more

* No credit card required

Description of Goods for HSN Code 24039960

HSN Code 24039960 relates to the following description.

Description of Goods

Other : Other : Tobacco extracts and essence (Bearing a

Chapter

24 - Tobacco and manufactured tobacco substitutes

Sub Chapter

2403 - Other manufactured tobacco and manufactured tobacco substitutes; "homogenised" or "reconstituted" tobacco; tobacco extracts and essences

CGST

14%

SGST

14%

IGST

28%

CESS

See note

CESS note

72% (If bearing a brand name)/ 65% (If not bearing a brand name)

What does HSN Code 24039960 not include?

Tobacco extracts and essence does not include products with the following descriptions.

HSN Code 24031110

Smoking tobacco, whether or not containing tobacco substitutes in any proportion : Water pipe tobacco specified in Sub-heading Note to this Chapter : Hookah or gudaku tobacco ( Bearing a brand name )

HSN Code 24031190

Smoking tobacco, whether or not containing tobacco substitutes in any proportion : Water pipe tobacco specified in Sub-heading Note to this Chapter : Other (not bearing a

HSN Code 24031910

Smoking tobacco, whether or not containing tobacco substitutes in any proportion : Other : Smoking mixtures for pipes and cigarettes

HSN Code 24031921

Smoking tobacco, whether or not containing tobacco substitutes in any proportion : Other : Biris : Other than paper rolled biris, manufactured without the aid of machine

HSN Code 24031929

Smoking tobacco, whether or not containing tobacco substitutes in any proportion : Other : Biris : Other

HSN Code 24031990

Smoking tobacco, whether or not containing tobacco substitutes in any proportion : Other : Other ( Bearing a brand name )

India’s Trade Performance — HSN Code 24039960 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

₹16 Cr

+8,075.00% vs FY 2023-24

0.0004% 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

₹16 Cr

Trade Surplus

Surplus rank #2969 of 12657 HSN codes

% of Sub-Chapter 2403

FY 2024-25

0.52%

Share of Sub-Chapter 2403’s total exports in FY 2024-25

Import side: 0.00% of Sub-Chapter 2403’s imports

Rank Within Sub-Chapter 2403

FY 2024-25

#7 of 15

Position by export value among HSN codes in Sub-Chapter 2403

At a glance

69.07%

Export CAGR

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

#5138

National Export Rank

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

+8,075.00%

Peak Growth Year

FY 2024-25 · strongest single-year move

0.52%

Contribution to Sub-Ch. 2403

Share of Sub-Chapter 2403 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 24039960

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 #7913

Balance

+0.70

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.03% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

FY 2019-20 Exp. Rank #3923

Balance

+23.07

Exports

23.07 ₹ Cr

0.0010% share

+3,195.71% YoY

1.15% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

FY 2020-21 Exp. Rank #5532

Balance

+6.94

Exports

6.94 ₹ Cr

0.0003% share

−69.92% YoY

0.34% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

FY 2021-22 Exp. Rank #8788

Balance

+0.37

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−94.67% YoY

0.02% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

FY 2022-23 Exp. Rank #8129

Balance

+0.96

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+159.46% YoY

0.04% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

FY 2023-24 Exp. Rank #9440

Balance

+0.20

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−79.17% YoY

0.01% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

FY 2024-25 Exp. Rank #5138

Balance

+16.35

Exports

16.35 ₹ Cr

0.0004% share

+8,075.00% YoY

0.52% of Sub-Ch. 2403

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 2403

CAGR · 7-Year

Exports

69.07% /yr

Imports

—

Consistently Surplus
Sub-Chapter 2403 total

reference, FY 2024-25

Export

₹3,137.09 Cr

Import

₹451.09 Cr

Trade Balance

+2,686.00

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

Key Trade Insights: HSN Code 24039960 Export-Import Analysis

Consistent Export Growth: 69.07% CAGR Over 7 Years

India's exports under HSN Code 24039960 have grown at a compound annual rate of 69.07% over 7 fiscal years, rising from ₹0.70 Crore in FY 2018-19 to ₹16.35 Crore in FY 2024-25.

HSN Code 24039960 Ranked #5138 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 24039960 ranks #5138 out of 12657 HSN codes by total export value. Within Sub-Chapter 2403, it ranks #7 of 15. By trade surplus, it ranks #2969 of 12657.

FY 2024-25 Was the Strongest Growth Year for HSN Code 24039960 Exports

The strongest single-year export movement for HSN Code 24039960 was recorded in FY 2024-25, when exports surged by 8,075.00% over the prior year.

India Maintains a Trade Surplus of ₹16.35 Crore in HSN Code 24039960 Goods

In FY 2024-25, India's exports of ₹16.35 Cr exceeded imports of ₹0.00 Cr, resulting in a trade surplus of ₹16.35 Crore — ranking #2969 of 12657 by surplus magnitude.

HSN Code 24039960 Contributes 0.52% of Sub-Chapter 2403 Exports — Ranked #7

Among the 15 HSN codes under Sub-Chapter 2403, HSN Code 24039960 ranks #7 by export value — accounting for 0.52% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.00% share.

Stop worrying about HSN & TAX compliance

BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.

Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
+91
expand_more

* No credit card required

Frequently Asked Questions

Clear answers to common queries about HSN Code 24039960 and GST compliance.

What products are classified under HSN 24039960 ?

It includes Tobacco extracts and essence

How should mixed supplies be billed when Tobacco extracts and essence is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Tobacco extracts and essence; Nil for exempt items if applicable).

Does packaging or labelling change the GST for Tobacco extracts and essence?

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 Tobacco extracts and essence?

Under HSN 24039960, Tobacco extracts and essence attracts Varies when sold in taxable form. Describe the form and packaging clearly on the invoice.

Any common misclassification issue with Tobacco extracts and essence?

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.

Can we claim ITC on inputs used to trade Tobacco extracts and essence?

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.