---
title: "HSN Code for Pigments in Oils/Varnishes | HSN 32129010 GST Rate"
description: "Find HSN and GST Rates for 32129010 related to Pigments in Oils/Varnishes with BUSY Accounting - The reliable source for HSN and GST details in India."
canonical: "https://busy.in/hsn/hsn-32129010/"
---

# HSN Code 32129010: Pigments in Oils/Varnishes

- [Section 06: Guide to HSN Section 06](https://busy.in/hsn/section-06/)
- [Chapter 32: Tanning or Dyeing Extracts; Dyes, Pigments and Other Colouring Matter](https://busy.in/hsn/chapter-32/)
- [Sub-chapter 3212: Pigments, Metallic Powders, Dyes](https://busy.in/hsn/sub-chapter-3212/)

## GST rates

| Description | CGST | SGST | IGST | CESS |
| --- | --- | --- | --- | --- |
| Other : Pigments in linseed oil, white spirit, spirit of turpentine, varnish and other paints or enamel media not elsewhere specified or included | 9% | 9% | 18% | 0% |

## Frequently asked questions

### What products are classified under HSN 32129010 ?

It includes Pigments in Oils/Varnishes

### Does packaging or labelling change the GST for Pigments in Oils/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.

### Do e‑way bill and e‑invoice apply for Pigments in Oils/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.

### Any common misclassification issue with Pigments in Oils/Varnishes?

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 Pigments in Oils/Varnishes is sold with other items?

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

### How much GST applies to Pigments in Oils/Varnishes?

Under HSN 32129010, Pigments in Oils/Varnishes attracts Varies when sold in taxable form. Describe the exact form on the invoice.

## India's trade performance: HSN Code 32129010 (FY 2024-25)

Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25).

- Exports: ₹45 Cr (+4.78% YoY) — 0.0012% of India's total exports
- Imports: ₹7 Cr (−3.04% YoY) — 0.0001% of India's total imports
- Trade balance: ₹38 Cr (Surplus); surplus rank #2354 of 12657 HSN codes
- Share of Sub-Chapter 3212: 7.54% of its exports; import side 0.93%
- Rank within Sub-Chapter 3212: #3 of 5 by export value; import-side #4

### Key metrics

- Export CAGR: 14.94% (FY 2018-19 to FY 2024-25, 7 fiscal years)
- National export rank: #3769 of 12657 HSN codes by export value (FY 2024-25)
- Peak growth year: +86.87% in FY 2021-22
- Contribution to Sub-Ch. 3212: 7.54% of its exports (FY 2024-25)

## India export-import trade statistics: HSN Code 32129010

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. 3212 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 3212 | Trade balance | Exp rank |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FY 2018-19 | 19.49 | 0.0009% | — | 3.12% | 3.02 | 0.0001% | — | 0.60% | +16.47 | #4142 |
| FY 2019-20 | 21.77 | 0.0010% | +11.70% | 3.32% | 4.25 | 0.0001% | +40.73% | 0.84% | +17.52 | #3999 |
| FY 2020-21 | 19.80 | 0.0009% | −9.05% | 3.70% | 4.69 | 0.0002% | +10.35% | 1.07% | +15.11 | #4189 |
| FY 2021-22 | 37.00 | 0.0012% | +86.87% | 5.03% | 9.32 | 0.0002% | +98.72% | 1.72% | +27.68 | #3784 |
| FY 2022-23 | 53.42 | 0.0015% | +44.38% | 7.02% | 6.29 | 0.0001% | −32.51% | 1.01% | +47.13 | #3391 |
| FY 2023-24 | 42.90 | 0.0012% | −19.69% | 6.13% | 7.23 | 0.0001% | +14.94% | 1.15% | +35.67 | #3744 |
| FY 2024-25 | 44.95 | 0.0012% | +4.78% | 7.54% | 7.01 | 0.0001% | −3.04% | 0.93% | +37.94 | #3769 |

- CAGR (7-year): exports 14.94%/yr, imports 15.07%/yr (consistently Surplus)

## Key trade insights: HSN Code 32129010 export-import analysis

### Consistent export growth: 14.94% CAGR over 7 years

India's exports under HSN Code 32129010 have grown at a compound annual rate of 14.94% over 7 fiscal years, rising from ₹19.49 Crore in FY 2018-19 to ₹44.95 Crore in FY 2024-25.

### HSN Code 32129010 ranked #3769 among all 12657 HSN codes by export value

In FY 2024-25, HSN Code 32129010 ranks #3769 out of 12657 HSN codes by total export value. Within Sub-Chapter 3212, it ranks #3 of 5. By trade surplus, it ranks #2354 of 12657.

### FY 2021-22 was the strongest growth year for HSN Code 32129010 exports

The strongest single-year export movement for HSN Code 32129010 was recorded in FY 2021-22, when exports surged by 86.87% over the prior year.

### India maintains a trade surplus of ₹37.94 Crore in HSN Code 32129010 goods

In FY 2024-25, India's exports of ₹44.95 Cr exceeded imports of ₹7.01 Cr, resulting in a trade surplus of ₹37.94 Crore — ranking #2354 of 12657 by surplus magnitude.

### Import growth of 15.07% CAGR signals rising demand for Pigments in Oils/Varnishes

India's imports under HSN Code 32129010 have grown at 15.07% CAGR, reaching ₹7.01 Crore in FY 2024-25.

### HSN Code 32129010 contributes 7.54% of Sub-Chapter 3212 exports — ranked #3

Among the 5 HSN codes under Sub-Chapter 3212, HSN Code 32129010 ranks #3 by export value — accounting for 7.54% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.93% share (rank #4).

## Related HSN Codes in Sub-Chapter 3212

Ranked by export value (FY 2024-25).

| Rank | HSN Code | Exports (FY 2024-25) |
| --- | --- | --- |
| #1 | [HSN Code 32129090: Pigment Dispersions, Foils, Retail Dyes/Colorants: Other](https://busy.in/hsn/hsn-32129090/) | ₹423 Cr |
| #2 | [HSN Code 32129030: Other \| Aluminium Paste](https://busy.in/hsn/hsn-32129030/) | ₹90 Cr |
| #3 | HSN Code 32129010: Pigments in Oils/Varnishes (this hsn code) | ₹45 Cr |
| #4 | [HSN Code 32121000: Stamping Foils](https://busy.in/hsn/hsn-32121000/) | ₹37 Cr |
| #5 | [HSN Code 32129020: Retail Packed Dyes/Colouring Matter](https://busy.in/hsn/hsn-32129020/) | ₹2 Cr |