HSN Code 32081020: Polyester Lacquers

HSN Code 32081020 represents Polyester Lacquers under GST classification. This code helps businesses identify Polyester Lacquers correctly for billing, taxation, and trade. With HSN Code 32081020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Polyester Lacquers.

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Description of Goods for HSN Code 32081020

HSN Code 32081020 relates to the following description.

Description of Goods

Based on polyesters : Lacquers

Chapter

32 - Tanning or dyeing extracts; tannins and their derivatives; dyes, pigments and other colouring matter;paints and varnishes; putty and other mastics; inks

Sub Chapter

3208 - Paints and varnishes (including enamels and lacquers) based on synthetic polymers or chemically modified natural polymers,dispersed or dissolved in a non-aqueous medium; solutions as defined in note 4 to this chapter

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 32081020 not include?

Polyester Lacquers does not include products with the following descriptions.

HSN Code 32089011

Other : Based on cellulose nitrate or other cellulose derivatives : Nitrocellulose lacquers

India’s Trade Performance — HSN Code 32081020 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

₹33 Cr

+13.99% vs FY 2023-24

0.0009% of India’s total exports

India’s Imports

FY 2024-25

₹74 Cr

+34.33% vs FY 2023-24

0.0012% of India’s total imports

Trade Balance

FY 2024-25

−₹41 Cr

Trade Deficit

Surplus rank #10095 of 12657 HSN codes

% of Sub-Chapter 3208

FY 2024-25

3.94%

Share of Sub-Chapter 3208’s total exports in FY 2024-25

Import side: 2.94% of Sub-Chapter 3208’s imports

Rank Within Sub-Chapter 3208

FY 2024-25

#4 of 18

Position by export value among HSN codes in Sub-Chapter 3208

Import-side rank: #6 of 18

At a glance

23.98%

Export CAGR

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

#4192

National Export Rank

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

+57.06%

Peak Growth Year

FY 2021-22 · strongest single-year move

3.94%

Contribution to Sub-Ch. 3208

Share of Sub-Chapter 3208 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 32081020

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 #5093

Balance

−15.00

Exports

9.11 ₹ Cr

0.0004% share

— YoY

2.16% of Sub-Ch. 3208

Imports

24.11 ₹ Cr

0.0007% share

— YoY

1.56% of Sub-Ch. 3208

FY 2019-20 Exp. Rank #4672

Balance

−16.08

Exports

13.01 ₹ Cr

0.0006% share

+42.81% YoY

3.00% of Sub-Ch. 3208

Imports

29.09 ₹ Cr

0.0009% share

+20.66% YoY

1.90% of Sub-Ch. 3208

FY 2020-21 Exp. Rank #4831

Balance

−19.93

Exports

12.11 ₹ Cr

0.0006% share

−6.92% YoY

2.65% of Sub-Ch. 3208

Imports

32.04 ₹ Cr

0.0011% share

+10.14% YoY

2.17% of Sub-Ch. 3208

FY 2021-22 Exp. Rank #4663

Balance

−29.18

Exports

19.02 ₹ Cr

0.0006% share

+57.06% YoY

3.33% of Sub-Ch. 3208

Imports

48.20 ₹ Cr

0.0011% share

+50.44% YoY

2.63% of Sub-Ch. 3208

FY 2022-23 Exp. Rank #4368

Balance

−33.08

Exports

25.62 ₹ Cr

0.0007% share

+34.70% YoY

3.90% of Sub-Ch. 3208

Imports

58.70 ₹ Cr

0.0010% share

+21.78% YoY

2.61% of Sub-Ch. 3208

FY 2023-24 Exp. Rank #4286

Balance

−26.26

Exports

29.02 ₹ Cr

0.0008% share

+13.27% YoY

3.72% of Sub-Ch. 3208

Imports

55.28 ₹ Cr

0.0010% share

−5.83% YoY

2.40% of Sub-Ch. 3208

FY 2024-25 Exp. Rank #4192

Balance

−41.18

Exports

33.08 ₹ Cr

0.0009% share

+13.99% YoY

3.94% of Sub-Ch. 3208

Imports

74.26 ₹ Cr

0.0012% share

+34.33% YoY

2.94% of Sub-Ch. 3208

CAGR · 7-Year

Exports

23.98% /yr

Imports

20.62% /yr

Consistently Deficit
Sub-Chapter 3208 total

reference, FY 2024-25

Export

₹840.56 Cr

Import

₹2,526.61 Cr

Trade Balance

−1,686.05

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

Key Trade Insights: HSN Code 32081020 Export-Import Analysis

Consistent Export Growth: 23.98% CAGR Over 7 Years

India's exports under HSN Code 32081020 have grown at a compound annual rate of 23.98% over 7 fiscal years, rising from ₹9.11 Crore in FY 2018-19 to ₹33.08 Crore in FY 2024-25.

HSN Code 32081020 Ranked #4192 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 32081020 ranks #4192 out of 12657 HSN codes by total export value. Within Sub-Chapter 3208, it ranks #4 of 18. By trade surplus, it ranks #10095 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 32081020 Exports

The strongest single-year export movement for HSN Code 32081020 was recorded in FY 2021-22, when exports surged by 57.06% over the prior year.

India Records a Trade Deficit of ₹41.18 Crore in HSN Code 32081020 Goods

In FY 2024-25, India's imports of ₹74.26 Cr exceeded exports of ₹33.08 Cr, resulting in a trade deficit of ₹41.18 Crore — ranking #10095 of 12657 by surplus magnitude.

Import Growth of 20.62% CAGR Signals Rising Demand for Polyester Lacquers

India's imports under HSN Code 32081020 have grown at 20.62% CAGR, reaching ₹74.26 Crore in FY 2024-25.

HSN Code 32081020 Contributes 3.94% of Sub-Chapter 3208 Exports — Ranked #4

Among the 18 HSN codes under Sub-Chapter 3208, HSN Code 32081020 ranks #4 by export value — accounting for 3.94% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 2.94% share (rank #6).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 32081020 and GST compliance.

What products are classified under HSN 32081020 ?

It includes Polyester Lacquers

Any common misclassification issue with Polyester Lacquers?

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 Polyester Lacquers?

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.

Do e‑way bill and e‑invoice apply for Polyester Lacquers?

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 Polyester Lacquers is sold with other items?

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

Can we claim ITC on inputs used to trade Polyester Lacquers?

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

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.