--- title: "HSN Code for Other Petroleum Oil Preparations | HSN 34031900 GST Rate" description: "Find HSN and GST Rates for 34031900 related to Other Petroleum Oil Preparations with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-34031900/" --- # HSN Code 34031900: Other Petroleum Oil Preparations - [Section 06: Guide to HSN Section 06](https://busy.in/hsn/section-06/) - [Chapter 34: Soap, Washing Preparations, Waxes](https://busy.in/hsn/chapter-34/) - [Sub-chapter 3403: lubricating preparations](https://busy.in/hsn/sub-chapter-3403/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Containing petroleum oils or oils obtained from bituminous minerals : Other | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 34031900 ? It includes Other Petroleum Oil Preparations ### Can we claim ITC on inputs used to trade Other Petroleum Oil Preparations? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### Does packaging or labelling change the GST for Other Petroleum Oil Preparations? 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 should mixed supplies be billed when Other Petroleum Oil Preparations is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Other Petroleum Oil Preparations; Nil for exempt items if applicable). ### How much GST applies to Other Petroleum Oil Preparations? Under HSN 34031900, Other Petroleum Oil Preparations attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Any common misclassification issue with Other Petroleum Oil Preparations? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ## India's trade performance: HSN Code 34031900 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹259 Cr (+65.47% YoY) — 0.0070% of India's total exports - Imports: ₹912 Cr (+7.33% YoY) — 0.0150% of India's total imports - Trade balance: −₹652 Cr (Deficit); surplus rank #12038 of 12657 HSN codes - Share of Sub-Chapter 3403: 41.21% of its exports; import side 24.77% - Rank within Sub-Chapter 3403: #2 of 4 by export value; import-side #2 ### Key metrics - Export CAGR: 22.11% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #1591 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +65.47% in FY 2024-25 - Contribution to Sub-Ch. 3403: 41.21% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 34031900 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. 3403 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 3403 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 78.25 | 0.0034% | — | 32.39% | 538.81 | 0.0150% | — | 22.44% | −460.56 | #2290 | | FY 2019-20 | 54.89 | 0.0025% | −29.85% | 26.07% | 434.15 | 0.0130% | −19.42% | 19.65% | −379.26 | #2752 | | FY 2020-21 | 63.30 | 0.0029% | +15.32% | 29.43% | 488.48 | 0.0168% | +12.51% | 23.52% | −425.18 | #2605 | | FY 2021-22 | 68.47 | 0.0022% | +8.17% | 25.37% | 816.46 | 0.0179% | +67.14% | 27.74% | −747.99 | #2901 | | FY 2022-23 | 102.63 | 0.0028% | +49.89% | 26.73% | 882.70 | 0.0154% | +8.11% | 24.99% | −780.07 | #2492 | | FY 2023-24 | 156.77 | 0.0043% | +52.75% | 29.93% | 849.52 | 0.0151% | −3.76% | 24.20% | −692.75 | #2059 | | FY 2024-25 | 259.40 | 0.0070% | +65.47% | 41.21% | 911.80 | 0.0150% | +7.33% | 24.77% | −652.40 | #1591 | - CAGR (7-year): exports 22.11%/yr, imports 9.16%/yr (consistently Deficit) ## Key trade insights: HSN Code 34031900 export-import analysis ### Consistent export growth: 22.11% CAGR over 7 years India's exports under HSN Code 34031900 have grown at a compound annual rate of 22.11% over 7 fiscal years, rising from ₹78.25 Crore in FY 2018-19 to ₹259.40 Crore in FY 2024-25. ### HSN Code 34031900 ranked #1591 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 34031900 ranks #1591 out of 12657 HSN codes by total export value. Within Sub-Chapter 3403, it ranks #2 of 4. By trade surplus, it ranks #12038 of 12657. ### FY 2024-25 was the strongest growth year for HSN Code 34031900 exports The strongest single-year export movement for HSN Code 34031900 was recorded in FY 2024-25, when exports surged by 65.47% over the prior year. ### India records a trade deficit of ₹652.40 Crore in HSN Code 34031900 goods In FY 2024-25, India's imports of ₹911.80 Cr exceeded exports of ₹259.40 Cr, resulting in a trade deficit of ₹652.40 Crore — ranking #12038 of 12657 by surplus magnitude. ### Import growth of 9.16% CAGR signals stable import dependency for Other Petroleum Oil Preparations India's imports under HSN Code 34031900 have grown at 9.16% CAGR, reaching ₹911.80 Crore in FY 2024-25. ### HSN Code 34031900 contributes 41.21% of Sub-Chapter 3403 exports — ranked #2 Among the 4 HSN codes under Sub-Chapter 3403, HSN Code 34031900 ranks #2 by export value — accounting for 41.21% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 24.77% share (rank #2). ## Related HSN Codes in Sub-Chapter 3403 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 34039900: Lubricating Preparations, Excluding High-Oil Content](https://busy.in/hsn/hsn-34039900/) | ₹319 Cr | | #2 | HSN Code 34031900: Other Petroleum Oil Preparations (this hsn code) | ₹259 Cr | | #3 | [HSN Code 34031100: Textile and Leather Treatment Preparations](https://busy.in/hsn/hsn-34031100/) | ₹28 Cr | | #4 | [HSN Code 34039100: Preparations for Treating Textiles/Leather/Furs](https://busy.in/hsn/hsn-34039100/) | ₹23 Cr |