HSN Code 29291090: Other Compounds with Nitrogen Function - Isocyanates

HSN Code 29291090 represents Other Compounds with Nitrogen Function - Isocyanates under GST classification. This code helps businesses identify Other Compounds with Nitrogen Function - Isocyanates correctly for billing, taxation, and trade. With HSN Code 29291090, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Other Compounds with Nitrogen Function - Isocyanates .

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Description of Goods for HSN Code 29291090

HSN Code 29291090 relates to the following description.

Description of Goods

Other

Chapter

29 - Organic chemicals

Sub Chapter

2929 - Compounds with other nitrogen function

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 29291090 not include?

Other Compounds with Nitrogen Function - Isocyanates does not include products with the following descriptions.

India’s Trade Performance — HSN Code 29291090 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

₹72 Cr

−28.23% vs FY 2023-24

0.0020% of India’s total exports

India’s Imports

FY 2024-25

₹1,637 Cr

+15.27% vs FY 2023-24

0.0269% of India’s total imports

Trade Balance

FY 2024-25

−₹1,565 Cr

Trade Deficit

Surplus rank #12364 of 12657 HSN codes

% of Sub-Chapter 2929

FY 2024-25

34.39%

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

Import side: 55.30% of Sub-Chapter 2929’s imports

Rank Within Sub-Chapter 2929

FY 2024-25

#2 of 10

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

Import-side rank: #1 of 10

At a glance

1.98%

Export CAGR

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

#3109

National Export Rank

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

+99.83%

Peak Growth Year

FY 2021-22 · strongest single-year move

34.39%

Contribution to Sub-Ch. 2929

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

India Export-Import Trade Statistics for HSN Code 29291090

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 #2542

Balance

−1,316.18

Exports

64.02 ₹ Cr

0.0028% share

— YoY

10.57% of Sub-Ch. 2929

Imports

1,380.20 ₹ Cr

0.0385% share

— YoY

62.86% of Sub-Ch. 2929

FY 2019-20 Exp. Rank #2555

Balance

−891.31

Exports

64.46 ₹ Cr

0.0029% share

+0.69% YoY

13.08% of Sub-Ch. 2929

Imports

955.77 ₹ Cr

0.0285% share

−30.75% YoY

65.20% of Sub-Ch. 2929

FY 2020-21 Exp. Rank #3060

Balance

−865.98

Exports

46.25 ₹ Cr

0.0022% share

−28.25% YoY

9.26% of Sub-Ch. 2929

Imports

912.23 ₹ Cr

0.0313% share

−4.56% YoY

58.74% of Sub-Ch. 2929

FY 2021-22 Exp. Rank #2528

Balance

−1,169.51

Exports

92.42 ₹ Cr

0.0029% share

+99.83% YoY

20.08% of Sub-Ch. 2929

Imports

1,261.93 ₹ Cr

0.0276% share

+38.33% YoY

57.37% of Sub-Ch. 2929

FY 2022-23 Exp. Rank #2764

Balance

−1,444.76

Exports

84.90 ₹ Cr

0.0023% share

−8.14% YoY

20.69% of Sub-Ch. 2929

Imports

1,529.66 ₹ Cr

0.0266% share

+21.22% YoY

52.93% of Sub-Ch. 2929

FY 2023-24 Exp. Rank #2572

Balance

−1,320.07

Exports

100.34 ₹ Cr

0.0028% share

+18.19% YoY

26.75% of Sub-Ch. 2929

Imports

1,420.41 ₹ Cr

0.0253% share

−7.14% YoY

57.91% of Sub-Ch. 2929

FY 2024-25 Exp. Rank #3109

Balance

−1,565.35

Exports

72.01 ₹ Cr

0.0020% share

−28.23% YoY

34.39% of Sub-Ch. 2929

Imports

1,637.36 ₹ Cr

0.0269% share

+15.27% YoY

55.30% of Sub-Ch. 2929

CAGR · 7-Year

Exports

1.98% /yr

Imports

2.89% /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 29291090 Export-Import Analysis

Consistent Export Growth: 1.98% CAGR Over 7 Years

India's exports under HSN Code 29291090 have grown at a compound annual rate of 1.98% over 7 fiscal years, rising from ₹64.02 Crore in FY 2018-19 to ₹72.01 Crore in FY 2024-25.

HSN Code 29291090 Ranked #3109 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 29291090 ranks #3109 out of 12657 HSN codes by total export value. Within Sub-Chapter 2929, it ranks #2 of 10. By trade surplus, it ranks #12364 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 29291090 Exports

The strongest single-year export movement for HSN Code 29291090 was recorded in FY 2021-22, when exports surged by 99.83% over the prior year.

India Records a Trade Deficit of ₹1,565.35 Crore in HSN Code 29291090 Goods

In FY 2024-25, India's imports of ₹1,637.36 Cr exceeded exports of ₹72.01 Cr, resulting in a trade deficit of ₹1,565.35 Crore — ranking #12364 of 12657 by surplus magnitude.

Import Growth of 2.89% CAGR Signals Stable Import Dependency for Other Compounds with Nitrogen Function - Isocyanates

India's imports under HSN Code 29291090 have grown at 2.89% CAGR, reaching ₹1,637.36 Crore in FY 2024-25.

HSN Code 29291090 Contributes 34.39% of Sub-Chapter 2929 Exports — Ranked #2

Among the 10 HSN codes under Sub-Chapter 2929, HSN Code 29291090 ranks #2 by export value — accounting for 34.39% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 55.30% share (rank #1).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 29291090 and GST compliance.

What products are classified under HSN 29291090 ?

It includes Other Compounds with Nitrogen Function - Isocyanates

Can we claim ITC on inputs used to trade Other Compounds with Nitrogen Function - Isocyanates?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

Any common misclassification issue with Other Compounds with Nitrogen Function - Isocyanates?

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

How should mixed supplies be billed when Other Compounds with Nitrogen Function - Isocyanates is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Other Compounds with Nitrogen Function - Isocyanates; Nil for exempt items if applicable).

How much GST applies to Other Compounds with Nitrogen Function - Isocyanates?

Under HSN 29291090, Other Compounds with Nitrogen Function - Isocyanates attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Do e‑way bill and e‑invoice apply for Other Compounds with Nitrogen Function - Isocyanates?

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.

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.