--- title: "HSN Code for Toluene | HSN 29023000 GST Rate" description: "Find HSN and GST Rates for 29023000 related to Toluene with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-29023000/" --- # HSN Code 29023000: Toluene - [Section 06: Guide to HSN Section 06](https://busy.in/hsn/section-06/) - [Chapter 29: Organic Chemicals](https://busy.in/hsn/chapter-29/) - [Sub-chapter 2902: Cyclic hydrocarbons](https://busy.in/hsn/sub-chapter-2902/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Toluene | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 29023000 ? It includes Toluene ### Do e‑way bill and e‑invoice apply for Toluene? 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 much GST applies to Toluene? Under HSN 29023000, Toluene attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Any common misclassification issue with Toluene? 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 Toluene? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How should mixed supplies be billed when Toluene is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Toluene; Nil for exempt items if applicable). ## India's trade performance: HSN Code 29023000 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹186 Cr (−30.73% YoY) — 0.0051% of India's total exports - Imports: ₹4,669 Cr (−7.20% YoY) — 0.0769% of India's total imports - Trade balance: −₹4,483 Cr (Deficit); surplus rank #12546 of 12657 HSN codes - Share of Sub-Chapter 2902: 1.22% of its exports; import side 16.49% - Rank within Sub-Chapter 2902: #5 of 20 by export value; import-side #3 ### Key metrics - Export CAGR: 11.89% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #1907 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +75.97% in FY 2020-21 - Contribution to Sub-Ch. 2902: 1.22% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 29023000 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. 2902 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 2902 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 95.01 | 0.0042% | — | 0.32% | 2,354.92 | 0.0657% | — | 11.68% | −2,259.91 | #2083 | | FY 2019-20 | 55.64 | 0.0025% | −41.44% | 0.23% | 2,381.19 | 0.0711% | +1.12% | 15.44% | −2,325.55 | #2733 | | FY 2020-21 | 97.91 | 0.0046% | +75.97% | 0.50% | 2,383.57 | 0.0818% | +0.10% | 21.25% | −2,285.66 | #2093 | | FY 2021-22 | 138.32 | 0.0044% | +41.27% | 0.44% | 3,153.30 | 0.0690% | +32.29% | 18.12% | −3,014.98 | #2033 | | FY 2022-23 | 152.95 | 0.0042% | +10.58% | 0.66% | 5,148.39 | 0.0895% | +63.27% | 21.81% | −4,995.44 | #2035 | | FY 2023-24 | 269.08 | 0.0074% | +75.93% | 1.81% | 5,031.48 | 0.0896% | −2.27% | 20.76% | −4,762.40 | #1481 | | FY 2024-25 | 186.39 | 0.0051% | −30.73% | 1.22% | 4,669.36 | 0.0769% | −7.20% | 16.49% | −4,482.97 | #1907 | - CAGR (7-year): exports 11.89%/yr, imports 12.08%/yr (consistently Deficit) ## Key trade insights: HSN Code 29023000 export-import analysis ### Consistent export growth: 11.89% CAGR over 7 years India's exports under HSN Code 29023000 have grown at a compound annual rate of 11.89% over 7 fiscal years, rising from ₹95.01 Crore in FY 2018-19 to ₹186.39 Crore in FY 2024-25. ### HSN Code 29023000 ranked #1907 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 29023000 ranks #1907 out of 12657 HSN codes by total export value. Within Sub-Chapter 2902, it ranks #5 of 20. By trade surplus, it ranks #12546 of 12657. ### FY 2020-21 was the strongest growth year for HSN Code 29023000 exports The strongest single-year export movement for HSN Code 29023000 was recorded in FY 2020-21, when exports surged by 75.97% over the prior year. ### India records a trade deficit of ₹4,482.97 Crore in HSN Code 29023000 goods In FY 2024-25, India's imports of ₹4,669.36 Cr exceeded exports of ₹186.39 Cr, resulting in a trade deficit of ₹4,482.97 Crore — ranking #12546 of 12657 by surplus magnitude. ### Import growth of 12.08% CAGR signals rising demand for Toluene India's imports under HSN Code 29023000 have grown at 12.08% CAGR, reaching ₹4,669.36 Crore in FY 2024-25. ### HSN Code 29023000 contributes 1.22% of Sub-Chapter 2902 exports — ranked #5 Among the 20 HSN codes under Sub-Chapter 2902, HSN Code 29023000 ranks #5 by export value — accounting for 1.22% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 16.49% share (rank #3). ## Related HSN Codes in Sub-Chapter 2902 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 29022000: Benzene](https://busy.in/hsn/hsn-29022000/) | ₹11,889 Cr | | #2 | [HSN Code 29024300: Xylenes \| P-Xylene](https://busy.in/hsn/hsn-29024300/) | ₹1,716 Cr | | #3 | [HSN Code 29029090: Other Cyclic Hydrocarbons](https://busy.in/hsn/hsn-29029090/) | ₹488 Cr | | #4 | [HSN Code 29025000: Styrene](https://busy.in/hsn/hsn-29025000/) | ₹220 Cr | | #5 | HSN Code 29023000: Toluene (this hsn code) | ₹186 Cr | | #6 | [HSN Code 29021990: Cyclanes, cyclenes](https://busy.in/hsn/hsn-29021990/) | ₹186 Cr | | #7 | [HSN Code 29021100: Cyclohexane](https://busy.in/hsn/hsn-29021100/) | ₹168 Cr | | #8 | [HSN Code 29029050: Other \| Isobutyl Benzene](https://busy.in/hsn/hsn-29029050/) | ₹167 Cr | | #9 | [HSN Code 29029060: Other \| N-Propyl Benzene](https://busy.in/hsn/hsn-29029060/) | ₹98 Cr | | #10 | [HSN Code 29024200: Xylenes \| M-Xylene](https://busy.in/hsn/hsn-29024200/) | ₹93 Cr |