HSN Code 29291020: Toluene Di-Isocyanate

HSN Code 29291020 represents Toluene Di-Isocyanate under GST classification. This code helps businesses identify Toluene Di-Isocyanate correctly for billing, taxation, and trade. With HSN Code 29291020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Toluene Di-Isocyanate.

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Description of Goods for HSN Code 29291020

HSN Code 29291020 relates to the following description.

Description of Goods

Toluene di-isocyanate

Chapter

29 - Organic chemicals

Sub Chapter

2929 - Compounds with other nitrogen function

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 29291020 not include?

Toluene Di-Isocyanate does not include products with the following descriptions.

India’s Trade Performance — HSN Code 29291020 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

₹14 Cr

−87.28% vs FY 2023-24

0.0004% of India’s total exports

India’s Imports

FY 2024-25

₹1,192 Cr

+34.01% vs FY 2023-24

0.0196% of India’s total imports

Trade Balance

FY 2024-25

−₹1,178 Cr

Trade Deficit

Surplus rank #12264 of 12657 HSN codes

% of Sub-Chapter 2929

FY 2024-25

6.67%

Share of Sub-Chapter 2929’s total exports in FY 2024-25

Import side: 40.25% of Sub-Chapter 2929’s imports

Rank Within Sub-Chapter 2929

FY 2024-25

#3 of 10

Position by export value among HSN codes in Sub-Chapter 2929

Import-side rank: #2 of 10

At a glance

−42.28%

Export CAGR

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

#5363

National Export Rank

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

+40.38%

Peak Growth Year

FY 2023-24 · strongest single-year move

6.67%

Contribution to Sub-Ch. 2929

Share of Sub-Chapter 2929 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 29291020

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 #829

Balance

−329.51

Exports

377.39 ₹ Cr

0.0165% share

— YoY

62.34% of Sub-Ch. 2929

Imports

706.90 ₹ Cr

0.0197% share

— YoY

32.20% of Sub-Ch. 2929

FY 2019-20 Exp. Rank #1183

Balance

−199.97

Exports

236.00 ₹ Cr

0.0107% share

−37.47% YoY

47.90% of Sub-Ch. 2929

Imports

435.97 ₹ Cr

0.0130% share

−38.33% YoY

29.74% of Sub-Ch. 2929

FY 2020-21 Exp. Rank #1244

Balance

−245.40

Exports

227.16 ₹ Cr

0.0106% share

−3.75% YoY

45.50% of Sub-Ch. 2929

Imports

472.56 ₹ Cr

0.0162% share

+8.39% YoY

30.43% of Sub-Ch. 2929

FY 2021-22 Exp. Rank #2364

Balance

−639.78

Exports

103.81 ₹ Cr

0.0033% share

−54.30% YoY

22.55% of Sub-Ch. 2929

Imports

743.59 ₹ Cr

0.0163% share

+57.35% YoY

33.81% of Sub-Ch. 2929

FY 2022-23 Exp. Rank #2872

Balance

−1,063.37

Exports

78.20 ₹ Cr

0.0022% share

−24.67% YoY

19.05% of Sub-Ch. 2929

Imports

1,141.57 ₹ Cr

0.0199% share

+53.52% YoY

39.50% of Sub-Ch. 2929

FY 2023-24 Exp. Rank #2457

Balance

−779.67

Exports

109.78 ₹ Cr

0.0030% share

+40.38% YoY

29.27% of Sub-Ch. 2929

Imports

889.45 ₹ Cr

0.0158% share

−22.09% YoY

36.26% of Sub-Ch. 2929

FY 2024-25 Exp. Rank #5363

Balance

−1,177.96

Exports

13.96 ₹ Cr

0.0004% share

−87.28% YoY

6.67% of Sub-Ch. 2929

Imports

1,191.92 ₹ Cr

0.0196% share

+34.01% YoY

40.25% of Sub-Ch. 2929

CAGR · 7-Year

Exports

−42.28% /yr

Imports

9.10% /yr

Consistently Deficit
Sub-Chapter 2929 total

reference, FY 2024-25

Export

₹209.39 Cr

Import

₹2,961.11 Cr

Trade Balance

−2,751.72

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

Key Trade Insights: HSN Code 29291020 Export-Import Analysis

Export Decline: −42.28% CAGR Over 7 Years

India's exports under HSN Code 29291020 have declined at a compound annual rate of −42.28% over 7 fiscal years, falling from ₹377.39 Crore in FY 2018-19 to ₹13.96 Crore in FY 2024-25.

HSN Code 29291020 Ranked #5363 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 29291020 ranks #5363 out of 12657 HSN codes by total export value. Within Sub-Chapter 2929, it ranks #3 of 10. By trade surplus, it ranks #12264 of 12657.

FY 2023-24 Was the Strongest Growth Year for HSN Code 29291020 Exports

The strongest single-year export movement for HSN Code 29291020 was recorded in FY 2023-24, when exports surged by 40.38% over the prior year.

India Records a Trade Deficit of ₹1,177.96 Crore in HSN Code 29291020 Goods

In FY 2024-25, India's imports of ₹1,191.92 Cr exceeded exports of ₹13.96 Cr, resulting in a trade deficit of ₹1,177.96 Crore — ranking #12264 of 12657 by surplus magnitude.

Import Growth of 9.10% CAGR Signals Stable Import Dependency for Toluene Di-Isocyanate

India's imports under HSN Code 29291020 have grown at 9.10% CAGR, reaching ₹1,191.92 Crore in FY 2024-25.

HSN Code 29291020 Contributes 6.67% of Sub-Chapter 2929 Exports — Ranked #3

Among the 10 HSN codes under Sub-Chapter 2929, HSN Code 29291020 ranks #3 by export value — accounting for 6.67% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 40.25% share (rank #2).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 29291020 and GST compliance.

What products are classified under HSN 29291020 ?

It includes Toluene Di-Isocyanate

Can we claim ITC on inputs used to trade Toluene Di-Isocyanate?

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 Di-Isocyanate is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Toluene Di-Isocyanate; Nil for exempt items if applicable).

Any common misclassification issue with Toluene Di-Isocyanate?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

How much GST applies to Toluene Di-Isocyanate?

Under HSN 29291020, Toluene Di-Isocyanate attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Does packaging or labelling change the GST for Toluene Di-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.

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.