--- title: "HSN Code for Phenyl Isocyanate | HSN 29291010 GST Rate" description: "Find HSN and GST Rates for 29291010 related to Phenyl Isocyanate with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-29291010/" --- # HSN Code 29291010: Phenyl Isocyanate - [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 2929: Compounds with other nitrogen function](https://busy.in/hsn/sub-chapter-2929/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Phenyl isocyanate | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 29291010 ? It includes Phenyl Isocyanate ### Any common misclassification issue with Phenyl Isocyanate? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### Does packaging or labelling change the GST for Phenyl Isocyanate? 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. ### How should mixed supplies be billed when Phenyl Isocyanate is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Phenyl Isocyanate; Nil for exempt items if applicable). ### How much GST applies to Phenyl Isocyanate? Under HSN 29291010, Phenyl Isocyanate attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Can we claim ITC on inputs used to trade Phenyl Isocyanate? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ## India's trade performance: HSN Code 29291010 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹6 Cr (+619.05% YoY) — 0.0002% of India's total exports - Imports: ₹74 Cr (+4.71% YoY) — 0.0012% of India's total imports - Trade balance: −₹68 Cr (Deficit); surplus rank #10477 of 12657 HSN codes - Share of Sub-Chapter 2929: 2.88% of its exports; import side 2.48% - Rank within Sub-Chapter 2929: #4 of 10 by export value; import-side #3 ### Key metrics - Export CAGR: 24.91% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #6394 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +619.05% in FY 2024-25 - Contribution to Sub-Ch. 2929: 2.88% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 29291010 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. 2929 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 2929 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 1.59 | 0.0001% | — | 0.26% | 87.49 | 0.0024% | — | 3.98% | −85.90 | #7187 | | FY 2019-20 | 2.44 | 0.0001% | +53.46% | 0.50% | 52.87 | 0.0016% | −39.57% | 3.61% | −50.43 | #6723 | | FY 2020-21 | 1.60 | 0.0001% | −34.43% | 0.32% | 138.54 | 0.0048% | +162.04% | 8.92% | −136.94 | #7225 | | FY 2021-22 | 1.17 | 0.0000% | −26.88% | 0.25% | 143.21 | 0.0031% | +3.37% | 6.51% | −142.04 | #7843 | | FY 2022-23 | < ₹1 Crore | 0.0000% | −52.99% | 0.13% | 172.88 | 0.0030% | +20.72% | 5.98% | −172.33 | #8606 | | FY 2023-24 | < ₹1 Crore | 0.0000% | +52.73% | 0.22% | 70.26 | 0.0013% | −59.36% | 2.86% | −69.42 | #8386 | | FY 2024-25 | 6.04 | 0.0002% | +619.05% | 2.88% | 73.57 | 0.0012% | +4.71% | 2.48% | −67.53 | #6394 | - CAGR (7-year): exports 24.91%/yr, imports -2.85%/yr (consistently Deficit) ## Key trade insights: HSN Code 29291010 export-import analysis ### Consistent export growth: 24.91% CAGR over 7 years India's exports under HSN Code 29291010 have grown at a compound annual rate of 24.91% over 7 fiscal years, rising from ₹1.59 Crore in FY 2018-19 to ₹6.04 Crore in FY 2024-25. ### HSN Code 29291010 ranked #6394 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 29291010 ranks #6394 out of 12657 HSN codes by total export value. Within Sub-Chapter 2929, it ranks #4 of 10. By trade surplus, it ranks #10477 of 12657. ### FY 2024-25 was the strongest growth year for HSN Code 29291010 exports The strongest single-year export movement for HSN Code 29291010 was recorded in FY 2024-25, when exports surged by 619.05% over the prior year. ### India records a trade deficit of ₹67.53 Crore in HSN Code 29291010 goods In FY 2024-25, India's imports of ₹73.57 Cr exceeded exports of ₹6.04 Cr, resulting in a trade deficit of ₹67.53 Crore — ranking #10477 of 12657 by surplus magnitude. ### Import growth of -2.85% CAGR signals stable import dependency for Phenyl Isocyanate India's imports under HSN Code 29291010 have grown at -2.85% CAGR, reaching ₹73.57 Crore in FY 2024-25. ### HSN Code 29291010 contributes 2.88% of Sub-Chapter 2929 exports — ranked #4 Among the 10 HSN codes under Sub-Chapter 2929, HSN Code 29291010 ranks #4 by export value — accounting for 2.88% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 2.48% share (rank #3). ## Related HSN Codes in Sub-Chapter 2929 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 29299090: Other Compounds with Nitrogen Function](https://busy.in/hsn/hsn-29299090/) | ₹116 Cr | | #2 | [HSN Code 29291090: Other Compounds with Nitrogen Function - Isocyanates](https://busy.in/hsn/hsn-29291090/) | ₹72 Cr | | #3 | [HSN Code 29291020: Toluene Di-Isocyanate](https://busy.in/hsn/hsn-29291020/) | ₹14 Cr | | #4 | HSN Code 29291010: Phenyl Isocyanate (this hsn code) | ₹6 Cr | | #5 | [HSN Code 29299060: Phosphoramidic acid, diethyl, dimethylester](https://busy.in/hsn/hsn-29299060/) | ₹1 Cr | | #6 | [HSN Code 29299050: Diethyl phosphoramidate](https://busy.in/hsn/hsn-29299050/) | < ₹1 Crore | | #7 | [HSN Code 29299010: N,N-Diethylphosphoramidic Dichloride](https://busy.in/hsn/hsn-29299010/) | < ₹1 Crore | | — | [HSN Code 29299020: Of a capacity of 50 l or more : Trunks and cases](https://busy.in/hsn/hsn-29299020/) | Nil | | — | [HSN Code 29299030: N,N-Dipropylphosphoramidic Dichloride](https://busy.in/hsn/hsn-29299030/) | Nil | | — | [HSN Code 29299040: N,N-Dimethylphosphoramidic Dichloride](https://busy.in/hsn/hsn-29299040/) | Nil |