--- title: "HSN Code for Magnesium Nitrate | HSN 28342920 GST Rate" description: "Find HSN and GST Rates for 28342920 related to Magnesium Nitrate with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-28342920/" --- # HSN Code 28342920: Magnesium Nitrate - [Section 06: Guide to HSN Section 06](https://busy.in/hsn/section-06/) - [Chapter 28: Inorganic Chemicals & Rare-Earth Metal Compounds](https://busy.in/hsn/chapter-28/) - [Sub-chapter 2834: Nitrites; nitrates](https://busy.in/hsn/sub-chapter-2834/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | SALTS AND PEROXYSALTS, OF INORGANIC ACIDS AND METALS : Nitrates : Other : Magnesium nitrate | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 28342920 ? It includes Magnesium Nitrate ### Does packaging or labelling change the GST for Magnesium Nitrate? For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading. ### Any common misclassification issue with Magnesium Nitrate? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### Can we claim ITC on inputs used to trade Magnesium Nitrate? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### Do e‑way bill and e‑invoice apply for Magnesium Nitrate? e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies. ### How should mixed supplies be billed when Magnesium Nitrate is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Magnesium Nitrate; Nil for exempt items if applicable). ### How much GST applies to Magnesium Nitrate? Under HSN 28342920, Magnesium Nitrate attracts Varies when sold in taxable form. Describe the exact form on the invoice. ## India's trade performance: HSN Code 28342920 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: < ₹1 Crore (+153.33% YoY) — 0.0000% of India's total exports - Imports: ₹4 Cr (+200.68% YoY) — 0.0001% of India's total imports - Trade balance: −₹4 Cr (Deficit); surplus rank #8497 of 12657 HSN codes - Share of Sub-Chapter 2834: 0.16% of its exports; import side 3.36% - Rank within Sub-Chapter 2834: #7 of 7 by export value; import-side #5 ### Key metrics - Export CAGR: 11.29% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #9046 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +153.33% in FY 2024-25 - Contribution to Sub-Ch. 2834: 0.16% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 28342920 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. 2834 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 2834 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | < ₹1 Crore | 0.0000% | — | 0.18% | 1.40 | 0.0000% | — | 1.39% | −1.20 | #8812 | | FY 2019-20 | < ₹1 Crore | 0.0000% | −30.00% | 0.12% | 1.64 | 0.0000% | +17.14% | 1.79% | −1.50 | #9016 | | FY 2020-21 | < ₹1 Crore | 0.0000% | +92.86% | 0.24% | 1.00 | 0.0000% | −39.02% | 1.65% | −0.73 | #8674 | | FY 2021-22 | < ₹1 Crore | 0.0000% | −7.41% | 0.16% | 2.64 | 0.0001% | +164.00% | 2.59% | −2.39 | #9054 | | FY 2022-23 | < ₹1 Crore | 0.0000% | +12.00% | 0.10% | 5.27 | 0.0001% | +99.62% | 2.68% | −4.99 | #9085 | | FY 2023-24 | < ₹1 Crore | 0.0000% | −46.43% | 0.06% | 1.46 | 0.0000% | −72.30% | 1.35% | −1.31 | #9590 | | FY 2024-25 | < ₹1 Crore | 0.0000% | +153.33% | 0.16% | 4.39 | 0.0001% | +200.68% | 3.36% | −4.01 | #9046 | - CAGR (7-year): exports 11.29%/yr, imports 20.98%/yr (consistently Deficit) ## Key trade insights: HSN Code 28342920 export-import analysis ### Consistent export growth: 11.29% CAGR over 7 years India's exports under HSN Code 28342920 have grown at a compound annual rate of 11.29% over 7 fiscal years, rising from ₹0.20 Crore in FY 2018-19 to ₹0.38 Crore in FY 2024-25. ### HSN Code 28342920 ranked #9046 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 28342920 ranks #9046 out of 12657 HSN codes by total export value. Within Sub-Chapter 2834, it ranks #7 of 7. By trade surplus, it ranks #8497 of 12657. ### FY 2024-25 was the strongest growth year for HSN Code 28342920 exports The strongest single-year export movement for HSN Code 28342920 was recorded in FY 2024-25, when exports surged by 153.33% over the prior year. ### India records a trade deficit of ₹4.01 Crore in HSN Code 28342920 goods In FY 2024-25, India's imports of ₹4.39 Cr exceeded exports of ₹0.38 Cr, resulting in a trade deficit of ₹4.01 Crore — ranking #8497 of 12657 by surplus magnitude. ### Import growth of 20.98% CAGR signals rising demand for Magnesium Nitrate India's imports under HSN Code 28342920 have grown at 20.98% CAGR, reaching ₹4.39 Crore in FY 2024-25. ### HSN Code 28342920 contributes 0.16% of Sub-Chapter 2834 exports — ranked #7 Among the 7 HSN codes under Sub-Chapter 2834, HSN Code 28342920 ranks #7 by export value — accounting for 0.16% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 3.36% share (rank #5). ## Related HSN Codes in Sub-Chapter 2834 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 28341010: Sodium Nitrite](https://busy.in/hsn/hsn-28341010/) | ₹128 Cr | | #2 | [HSN Code 28342990: Other Nitrates](https://busy.in/hsn/hsn-28342990/) | ₹57 Cr | | #3 | [HSN Code 28342100: Potassium Nitrates: Salts & Peroxysalts of Inorganic Acids](https://busy.in/hsn/hsn-28342100/) | ₹38 Cr | | #4 | [HSN Code 28341090: Nitrites – Other](https://busy.in/hsn/hsn-28341090/) | ₹10 Cr | | #5 | [HSN Code 28342930: Barium Nitrate](https://busy.in/hsn/hsn-28342930/) | ₹1 Cr | | #6 | [HSN Code 28342910: Strontium Nitrate](https://busy.in/hsn/hsn-28342910/) | ₹1 Cr | | #7 | HSN Code 28342920: Magnesium Nitrate (this hsn code) | < ₹1 Crore |