HSN Code 29371200 represents Insulin and Salts under GST classification. This code helps businesses identify Insulin and Salts correctly for billing, taxation, and trade. With HSN Code 29371200, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Insulin and Salts.
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HSN Code 29371200 relates to the following description.
Organic chemicals
Hormones, prostaglandins, thromboxanes and leukotrienes, natural or reproduced by synthesis; derivatives and structural analogues thereof, including chain modified polypeptides, used primarily as hormones
Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Insulin and its salts
9%
9%
18%
0%
Description of Goods
Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Insulin and its salts
Chapter
29 - Organic chemicals
Sub Chapter
2937 - Hormones, prostaglandins, thromboxanes and leukotrienes, natural or reproduced by synthesis; derivatives and structural analogues thereof, including chain modified polypeptides, used primarily as hormones
CGST
9%
SGST
9%
IGST
18%
CESS
0%
Insulin and Salts does not include products with the following descriptions.
Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Somatotropin, its derivatives and structural analogues
Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Other
Steroidal hormones, their derivatives and structural analogues :Cortisone, hydrocortisone, prednisone, (dehydrocortisone) and prednisolone (dehydrohydrocortisone)
Steroidal hormones, their derivatives and structural analogues :Halogenated derivatives of corticosteroidal harmones
Steroidal hormones, their derivatives and structural analogues :Oestrogens and progestogens
Steroidal hormones, their derivatives and structural analogues :Other
Epinephrine
Prostaglandins,thromboxanes, leukotrienes, their derivatives and structural analogues
Other:Catecholamine hormones,their derivatives and structural analogues:Epinethrine
Other:Catecholamine hormones,their derivatives and structural analogues:Other
Other: Amino-acid derivatives
Other:Other
Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Somatotropin, its derivatives and structural analogues
Polypeptide hormones, protein hormones and glycoprotein hormones, their dervatives and structural analogues :Other
Steroidal hormones, their derivatives and structural analogues :Cortisone, hydrocortisone, prednisone, (dehydrocortisone) and prednisolone (dehydrohydrocortisone)
Steroidal hormones, their derivatives and structural analogues :Halogenated derivatives of corticosteroidal harmones
Steroidal hormones, their derivatives and structural analogues :Oestrogens and progestogens
Steroidal hormones, their derivatives and structural analogues :Other
Epinephrine
Prostaglandins,thromboxanes, leukotrienes, their derivatives and structural analogues
Other:Catecholamine hormones,their derivatives and structural analogues:Epinethrine
Other:Catecholamine hormones,their derivatives and structural analogues:Other
Other: Amino-acid derivatives
Other:Other
India’s Exports
FY 2024-25₹342 Cr
0.0093% of India’s total exports
India’s Imports
FY 2024-25₹285 Cr
0.0047% of India’s total imports
Trade Balance
FY 2024-25₹58 Cr
Surplus rank #2041 of 12657 HSN codes
% of Sub-Chapter 2937
FY 2024-2512.52%
Share of Sub-Chapter 2937’s total exports in FY 2024-25
Import side: 8.34% of Sub-Chapter 2937’s imports
Rank Within Sub-Chapter 2937
FY 2024-25#2 of 13
Position by export value among HSN codes in Sub-Chapter 2937
Import-side rank: #6 of 13
At a glance
14.20%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#1318
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+54.20%
Peak Growth Year
FY 2021-22 · strongest single-year move
12.52%
Contribution to Sub-Ch. 2937
Share of Sub-Chapter 2937 exports in FY 2024-25
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−55.64
Exports
154.40 ₹ Cr
0.0068% share
— YoY
10.07% of Sub-Ch. 2937
Imports
210.04 ₹ Cr
0.0059% share
— YoY
9.41% of Sub-Ch. 2937
Balance
−67.74
Exports
200.08 ₹ Cr
0.0091% share
+29.59% YoY
11.69% of Sub-Ch. 2937
Imports
267.82 ₹ Cr
0.0080% share
+27.51% YoY
12.09% of Sub-Ch. 2937
Balance
+46.86
Exports
229.33 ₹ Cr
0.0107% share
+14.62% YoY
11.93% of Sub-Ch. 2937
Imports
182.47 ₹ Cr
0.0063% share
−31.87% YoY
8.35% of Sub-Ch. 2937
Balance
+113.03
Exports
353.62 ₹ Cr
0.0113% share
+54.20% YoY
18.28% of Sub-Ch. 2937
Imports
240.59 ₹ Cr
0.0053% share
+31.85% YoY
9.57% of Sub-Ch. 2937
Balance
+34.85
Exports
277.88 ₹ Cr
0.0077% share
−21.42% YoY
12.95% of Sub-Ch. 2937
Imports
243.03 ₹ Cr
0.0042% share
+1.01% YoY
8.17% of Sub-Ch. 2937
Balance
+103.14
Exports
394.79 ₹ Cr
0.0109% share
+42.07% YoY
15.47% of Sub-Ch. 2937
Imports
291.65 ₹ Cr
0.0052% share
+20.01% YoY
9.20% of Sub-Ch. 2937
Balance
+57.87
Exports
342.43 ₹ Cr
0.0093% share
−13.26% YoY
12.52% of Sub-Ch. 2937
Imports
284.56 ₹ Cr
0.0047% share
−2.43% YoY
8.34% of Sub-Ch. 2937
CAGR · 7-Year
Exports
14.20% /yr
Imports
5.19% /yr
reference, FY 2024-25
Export
₹2,735.54 Cr
Import
₹3,412.87 Cr
Trade Balance
−677.33
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.
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.
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.
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.
India's imports under HSN Code 29371200 have grown at 5.19% CAGR, reaching ₹284.56 Crore in FY 2024-25.
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).
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Clear answers to common queries about HSN Code 29371200 and GST compliance.
It includes 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.
Under HSN 29371200, Insulin and Salts attracts Varies when sold in taxable form. Describe the exact form on the invoice.
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.
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).
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.
Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.