--- title: "HSN Code for Insulin and Salts | HSN 29371200 GST Rate" description: "Find HSN and GST Rates for 29371200 related to Insulin and Salts with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-29371200/" --- # HSN Code 29371200: Insulin and Salts - [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 2937: Hormones & derivatives, synthesized](https://busy.in/hsn/sub-chapter-2937/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Insulin and its salts | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 29371200 ? It includes Insulin and Salts ### Can we claim ITC on inputs used to trade Insulin and Salts? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How much GST applies to Insulin and Salts? Under HSN 29371200, Insulin and Salts attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Do e‑way bill and e‑invoice apply for Insulin and Salts? 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 Insulin and Salts is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Insulin and Salts; Nil for exempt items if applicable). ### Does packaging or labelling change the GST for Insulin and Salts? 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 Insulin and Salts? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ## India's trade performance: HSN Code 29371200 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹342 Cr (−13.26% YoY) — 0.0093% of India's total exports - Imports: ₹285 Cr (−2.43% YoY) — 0.0047% of India's total imports - Trade balance: ₹58 Cr (Surplus); surplus rank #2041 of 12657 HSN codes - Share of Sub-Chapter 2937: 12.52% of its exports; import side 8.34% - Rank within Sub-Chapter 2937: #2 of 13 by export value; import-side #6 ### Key metrics - Export CAGR: 14.20% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #1318 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +54.20% in FY 2021-22 - Contribution to Sub-Ch. 2937: 12.52% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 29371200 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. 2937 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 2937 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 154.40 | 0.0068% | — | 10.07% | 210.04 | 0.0059% | — | 9.41% | −55.64 | #1559 | | FY 2019-20 | 200.08 | 0.0091% | +29.59% | 11.69% | 267.82 | 0.0080% | +27.51% | 12.09% | −67.74 | #1327 | | FY 2020-21 | 229.33 | 0.0107% | +14.62% | 11.93% | 182.47 | 0.0063% | −31.87% | 8.35% | +46.86 | #1240 | | FY 2021-22 | 353.62 | 0.0113% | +54.20% | 18.28% | 240.59 | 0.0053% | +31.85% | 9.57% | +113.03 | #1136 | | FY 2022-23 | 277.88 | 0.0077% | −21.42% | 12.95% | 243.03 | 0.0042% | +1.01% | 8.17% | +34.85 | #1401 | | FY 2023-24 | 394.79 | 0.0109% | +42.07% | 15.47% | 291.65 | 0.0052% | +20.01% | 9.20% | +103.14 | #1161 | | FY 2024-25 | 342.43 | 0.0093% | −13.26% | 12.52% | 284.56 | 0.0047% | −2.43% | 8.34% | +57.87 | #1318 | - CAGR (7-year): exports 14.20%/yr, imports 5.19%/yr (consistently Surplus) ## Key trade insights: HSN Code 29371200 export-import analysis ### Consistent export growth: 14.20% CAGR over 7 years India's exports under HSN Code 29371200 have grown at a compound annual rate of 14.20% over 7 fiscal years, rising from ₹154.40 Crore in FY 2018-19 to ₹342.43 Crore in FY 2024-25. ### HSN Code 29371200 ranked #1318 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 29371200 ranks #1318 out of 12657 HSN codes by total export value. Within Sub-Chapter 2937, it ranks #2 of 13. By trade surplus, it ranks #2041 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 29371200 exports The strongest single-year export movement for HSN Code 29371200 was recorded in FY 2021-22, when exports surged by 54.20% over the prior year. ### India maintains a trade surplus of ₹57.87 Crore in HSN Code 29371200 goods In FY 2024-25, India's exports of ₹342.43 Cr exceeded imports of ₹284.56 Cr, resulting in a trade surplus of ₹57.87 Crore — ranking #2041 of 12657 by surplus magnitude. ### Import growth of 5.19% CAGR signals stable import dependency for Insulin and Salts India's imports under HSN Code 29371200 have grown at 5.19% CAGR, reaching ₹284.56 Crore in FY 2024-25. ### HSN Code 29371200 contributes 12.52% of Sub-Chapter 2937 exports — ranked #2 Among the 13 HSN codes under Sub-Chapter 2937, HSN Code 29371200 ranks #2 by export value — accounting for 12.52% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 8.34% share (rank #6). ## Related HSN Codes in Sub-Chapter 2937 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 29372900: Steroidal hormones, their derivatives and structural analogues : Other](https://busy.in/hsn/hsn-29372900/) | ₹991 Cr | | #2 | HSN Code 29371200: Insulin and Salts (this hsn code) | ₹342 Cr | | #3 | [HSN Code 29372200: Halogenated Corticosteroidal Hormones](https://busy.in/hsn/hsn-29372200/) | ₹322 Cr | | #4 | [HSN Code 29371900: Other Polypeptide/Protein/Glycoprotein Hormones](https://busy.in/hsn/hsn-29371900/) | ₹297 Cr | | #5 | [HSN Code 29372300: Oestrogens & Progestogens](https://busy.in/hsn/hsn-29372300/) | ₹234 Cr | | #6 | [HSN Code 29379090: Hormones, Prostaglandins & Leukotrienes](https://busy.in/hsn/hsn-29379090/) | ₹205 Cr | | #7 | [HSN Code 29379020: Other\| Amino-Acid Derivatives](https://busy.in/hsn/hsn-29379020/) | ₹201 Cr | | #8 | [HSN Code 29372100: Sterile Laminaria/Haemostatics/Adhesion Barriers](https://busy.in/hsn/hsn-29372100/) | ₹106 Cr | | #9 | [HSN Code 29375000: Prostaglandins/Thromboxanes/Leukotrienes](https://busy.in/hsn/hsn-29375000/) | ₹23 Cr | | #10 | [HSN Code 29379019: Catecholamine Hormones and Analogues: Other](https://busy.in/hsn/hsn-29379019/) | ₹12 Cr |