HSN Code 32089041: Other | Varnishes

HSN Code 32089041 represents Other | Varnishes under GST classification. This code helps businesses identify Other | Varnishes correctly for billing, taxation, and trade. With HSN Code 32089041, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Other | Varnishes.

Live Demo Available Today

Experience the power of Expert Accounting

Join our guided walkthrough to see how BUSY can transform your business operations.

Trusted by 6,00,000+ Users
4.6 Google Rating
+91
expand_more

* No credit card required

Description of Goods for HSN Code 32089041

HSN Code 32089041 relates to the following description.

Description of Goods

Other : Varnishes : Insulating varnish

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 32089041 not include?

Other | Varnishes 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 32089041 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

₹17 Cr

+0.54% vs FY 2023-24

0.0005% of India’s total exports

India’s Imports

FY 2024-25

₹48 Cr

+47.66% vs FY 2023-24

0.0008% of India’s total imports

Trade Balance

FY 2024-25

−₹31 Cr

Trade Deficit

Surplus rank #9863 of 12657 HSN codes

% of Sub-Chapter 3208

FY 2024-25

1.99%

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

Import side: 1.89% of Sub-Chapter 3208’s imports

Rank Within Sub-Chapter 3208

FY 2024-25

#8 of 18

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

Import-side rank: #7 of 18

At a glance

9.81%

Export CAGR

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

#5116

National Export Rank

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

+71.65%

Peak Growth Year

FY 2022-23 · strongest single-year move

1.99%

Contribution to Sub-Ch. 3208

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

India Export-Import Trade Statistics for HSN Code 32089041

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 #5036

Balance

−12.21

Exports

9.53 ₹ Cr

0.0004% share

— YoY

2.26% of Sub-Ch. 3208

Imports

21.74 ₹ Cr

0.0006% share

— YoY

1.41% of Sub-Ch. 3208

FY 2019-20 Exp. Rank #4778

Balance

−11.99

Exports

11.86 ₹ Cr

0.0005% share

+24.45% YoY

2.73% of Sub-Ch. 3208

Imports

23.85 ₹ Cr

0.0007% share

+9.71% YoY

1.55% of Sub-Ch. 3208

FY 2020-21 Exp. Rank #5434

Balance

−15.40

Exports

7.49 ₹ Cr

0.0003% share

−36.85% YoY

1.64% of Sub-Ch. 3208

Imports

22.89 ₹ Cr

0.0008% share

−4.03% YoY

1.55% of Sub-Ch. 3208

FY 2021-22 Exp. Rank #5543

Balance

−24.81

Exports

9.56 ₹ Cr

0.0003% share

+27.64% YoY

1.68% of Sub-Ch. 3208

Imports

34.37 ₹ Cr

0.0008% share

+50.15% YoY

1.88% of Sub-Ch. 3208

FY 2022-23 Exp. Rank #4944

Balance

−18.74

Exports

16.41 ₹ Cr

0.0005% share

+71.65% YoY

2.50% of Sub-Ch. 3208

Imports

35.15 ₹ Cr

0.0006% share

+2.27% YoY

1.56% of Sub-Ch. 3208

FY 2023-24 Exp. Rank #5024

Balance

−15.69

Exports

16.62 ₹ Cr

0.0005% share

+1.28% YoY

2.13% of Sub-Ch. 3208

Imports

32.31 ₹ Cr

0.0006% share

−8.08% YoY

1.40% of Sub-Ch. 3208

FY 2024-25 Exp. Rank #5116

Balance

−31.00

Exports

16.71 ₹ Cr

0.0005% share

+0.54% YoY

1.99% of Sub-Ch. 3208

Imports

47.71 ₹ Cr

0.0008% share

+47.66% YoY

1.89% of Sub-Ch. 3208

CAGR · 7-Year

Exports

9.81% /yr

Imports

14.00% /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 32089041 Export-Import Analysis

Consistent Export Growth: 9.81% CAGR Over 7 Years

India's exports under HSN Code 32089041 have grown at a compound annual rate of 9.81% over 7 fiscal years, rising from ₹9.53 Crore in FY 2018-19 to ₹16.71 Crore in FY 2024-25.

HSN Code 32089041 Ranked #5116 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 32089041 ranks #5116 out of 12657 HSN codes by total export value. Within Sub-Chapter 3208, it ranks #8 of 18. By trade surplus, it ranks #9863 of 12657.

FY 2022-23 Was the Strongest Growth Year for HSN Code 32089041 Exports

The strongest single-year export movement for HSN Code 32089041 was recorded in FY 2022-23, when exports surged by 71.65% over the prior year.

India Records a Trade Deficit of ₹31.00 Crore in HSN Code 32089041 Goods

In FY 2024-25, India's imports of ₹47.71 Cr exceeded exports of ₹16.71 Cr, resulting in a trade deficit of ₹31.00 Crore — ranking #9863 of 12657 by surplus magnitude.

Import Growth of 14.00% CAGR Signals Rising Demand for Other | Varnishes

India's imports under HSN Code 32089041 have grown at 14.00% CAGR, reaching ₹47.71 Crore in FY 2024-25.

HSN Code 32089041 Contributes 1.99% of Sub-Chapter 3208 Exports — Ranked #8

Among the 18 HSN codes under Sub-Chapter 3208, HSN Code 32089041 ranks #8 by export value — accounting for 1.99% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 1.89% share (rank #7).

Stop worrying about HSN & TAX compliance

BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.

Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
+91
expand_more

* No credit card required

Frequently Asked Questions

Clear answers to common queries about HSN Code 32089041 and GST compliance.

What products are classified under HSN 32089041 ?

It includes Other | Varnishes

Any common misclassification issue with Other / Varnishes?

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

Can we claim ITC on inputs used to trade Other / Varnishes?

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

Do e‑way bill and e‑invoice apply for Other / Varnishes?

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.

Does packaging or labelling change the GST for Other / Varnishes?

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.

How much GST applies to Other / Varnishes?

Under HSN 32089041, Other / Varnishes attracts Varies when sold in taxable form. Describe the exact form on the invoice.

How should mixed supplies be billed when Other / Varnishes is sold with other items?

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

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.