HSN Code 32129010: Pigments in Oils/Varnishes

HSN Code 32129010 represents Pigments in Oils/Varnishes under GST classification. This code helps businesses identify Pigments in Oils/Varnishes correctly for billing, taxation, and trade. With HSN Code 32129010, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Pigments in Oils/Varnishes.

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Description of Goods for HSN Code 32129010

HSN Code 32129010 relates to the following description.

Description of Goods

Other : Pigments in linseed oil, white spirit, spirit of turpentine, varnish and other paints or enamel media not elsewhere specified or included

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

3212 - Pigments (including metallic powders and flakes) dispersed in non-aqueous media, in liquid or paste form, of a kind used in the manufacture of paints (including enamels); stamping foils; dyes and other colouring matter put up in forms or packings for retail sale

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 32129010 not include?

Pigments in Oils/Varnishes does not include products with the following descriptions.

HSN Code 32129020

Other : Dyes and other colouring matter put up in forms or packings for retail sale

India’s Trade Performance — HSN Code 32129010 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

₹45 Cr

+4.78% vs FY 2023-24

0.0012% of India’s total exports

India’s Imports

FY 2024-25

₹7 Cr

−3.04% vs FY 2023-24

0.0001% of India’s total imports

Trade Balance

FY 2024-25

₹38 Cr

Trade Surplus

Surplus rank #2354 of 12657 HSN codes

% of Sub-Chapter 3212

FY 2024-25

7.54%

Share of Sub-Chapter 3212’s total exports in FY 2024-25

Import side: 0.93% of Sub-Chapter 3212’s imports

Rank Within Sub-Chapter 3212

FY 2024-25

#3 of 5

Position by export value among HSN codes in Sub-Chapter 3212

Import-side rank: #4 of 5

At a glance

14.94%

Export CAGR

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

#3769

National Export Rank

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

+86.87%

Peak Growth Year

FY 2021-22 · strongest single-year move

7.54%

Contribution to Sub-Ch. 3212

Share of Sub-Chapter 3212 exports in FY 2024-25

India Export-Import Trade Statistics for 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 2018-19 Exp. Rank #4142

Balance

+16.47

Exports

19.49 ₹ Cr

0.0009% share

— YoY

3.12% of Sub-Ch. 3212

Imports

3.02 ₹ Cr

0.0001% share

— YoY

0.60% of Sub-Ch. 3212

FY 2019-20 Exp. Rank #3999

Balance

+17.52

Exports

21.77 ₹ Cr

0.0010% share

+11.70% YoY

3.32% of Sub-Ch. 3212

Imports

4.25 ₹ Cr

0.0001% share

+40.73% YoY

0.84% of Sub-Ch. 3212

FY 2020-21 Exp. Rank #4189

Balance

+15.11

Exports

19.80 ₹ Cr

0.0009% share

−9.05% YoY

3.70% of Sub-Ch. 3212

Imports

4.69 ₹ Cr

0.0002% share

+10.35% YoY

1.07% of Sub-Ch. 3212

FY 2021-22 Exp. Rank #3784

Balance

+27.68

Exports

37.00 ₹ Cr

0.0012% share

+86.87% YoY

5.03% of Sub-Ch. 3212

Imports

9.32 ₹ Cr

0.0002% share

+98.72% YoY

1.72% of Sub-Ch. 3212

FY 2022-23 Exp. Rank #3391

Balance

+47.13

Exports

53.42 ₹ Cr

0.0015% share

+44.38% YoY

7.02% of Sub-Ch. 3212

Imports

6.29 ₹ Cr

0.0001% share

−32.51% YoY

1.01% of Sub-Ch. 3212

FY 2023-24 Exp. Rank #3744

Balance

+35.67

Exports

42.90 ₹ Cr

0.0012% share

−19.69% YoY

6.13% of Sub-Ch. 3212

Imports

7.23 ₹ Cr

0.0001% share

+14.94% YoY

1.15% of Sub-Ch. 3212

FY 2024-25 Exp. Rank #3769

Balance

+37.94

Exports

44.95 ₹ Cr

0.0012% share

+4.78% YoY

7.54% of Sub-Ch. 3212

Imports

7.01 ₹ Cr

0.0001% share

−3.04% YoY

0.93% of Sub-Ch. 3212

CAGR · 7-Year

Exports

14.94% /yr

Imports

15.07% /yr

Consistently Surplus
Sub-Chapter 3212 total

reference, FY 2024-25

Export

₹596.14 Cr

Import

₹756.82 Cr

Trade Balance

−160.68

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

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).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 32129010 and GST compliance.

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.

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.