--- title: "HSN Code for Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils | HSN 38231200 GST Rate" description: "Find HSN and GST Rates for 38231200 related to Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-38231200/" --- # HSN Code 38231200: Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils - [Section 06: Guide to HSN Section 06](https://busy.in/hsn/section-06/) - [Chapter 38: Miscellaneous Chemical Products](https://busy.in/hsn/chapter-38/) - [Sub-chapter 3823: Fatty acids & industrial oils](https://busy.in/hsn/sub-chapter-3823/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Industrial monocarboxylic fatty acids; acid oils from refining : Oleic acid | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 38231200 ? It includes Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils ### Any common misclassification issue with Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### Do e‑way bill and e‑invoice apply for Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils? 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. ### Can we claim ITC on inputs used to trade Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How much GST applies to Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils? Under HSN 38231200, Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### How should mixed supplies be billed when Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils; Nil for exempt items if applicable). ## India's trade performance: HSN Code 38231200 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹105 Cr (−15.71% YoY) — 0.0029% of India's total exports - Imports: ₹278 Cr (+6.70% YoY) — 0.0046% of India's total imports - Trade balance: −₹173 Cr (Deficit); surplus rank #11205 of 12657 HSN codes - Share of Sub-Chapter 3823: 2.90% of its exports; import side 3.29% - Rank within Sub-Chapter 3823: #3 of 13 by export value; import-side #5 ### Key metrics - Export CAGR: 36.21% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #2594 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +111.92% in FY 2022-23 - Contribution to Sub-Ch. 3823: 2.90% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 38231200 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. 3823 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 3823 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 16.43 | 0.0007% | — | 1.08% | 106.02 | 0.0030% | — | 2.15% | −89.59 | #4348 | | FY 2019-20 | 14.71 | 0.0007% | −10.47% | 1.04% | 154.04 | 0.0046% | +45.29% | 4.55% | −139.33 | #4522 | | FY 2020-21 | 21.91 | 0.0010% | +48.95% | 1.58% | 165.35 | 0.0057% | +7.34% | 3.88% | −143.44 | #4076 | | FY 2021-22 | 44.80 | 0.0014% | +104.47% | 1.77% | 278.62 | 0.0061% | +68.50% | 3.94% | −233.82 | #3508 | | FY 2022-23 | 94.94 | 0.0026% | +111.92% | 2.38% | 369.29 | 0.0064% | +32.54% | 4.96% | −274.35 | #2601 | | FY 2023-24 | 124.47 | 0.0034% | +31.10% | 4.54% | 260.43 | 0.0046% | −29.48% | 4.46% | −135.96 | #2320 | | FY 2024-25 | 104.91 | 0.0029% | −15.71% | 2.90% | 277.88 | 0.0046% | +6.70% | 3.29% | −172.97 | #2594 | - CAGR (7-year): exports 36.21%/yr, imports 17.42%/yr (consistently Deficit) ## Key trade insights: HSN Code 38231200 export-import analysis ### Consistent export growth: 36.21% CAGR over 7 years India's exports under HSN Code 38231200 have grown at a compound annual rate of 36.21% over 7 fiscal years, rising from ₹16.43 Crore in FY 2018-19 to ₹104.91 Crore in FY 2024-25. ### HSN Code 38231200 ranked #2594 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 38231200 ranks #2594 out of 12657 HSN codes by total export value. Within Sub-Chapter 3823, it ranks #3 of 13. By trade surplus, it ranks #11205 of 12657. ### FY 2022-23 was the strongest growth year for HSN Code 38231200 exports The strongest single-year export movement for HSN Code 38231200 was recorded in FY 2022-23, when exports surged by 111.92% over the prior year. ### India records a trade deficit of ₹172.97 Crore in HSN Code 38231200 goods In FY 2024-25, India's imports of ₹277.88 Cr exceeded exports of ₹104.91 Cr, resulting in a trade deficit of ₹172.97 Crore — ranking #11205 of 12657 by surplus magnitude. ### Import growth of 17.42% CAGR signals rising demand for Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils India's imports under HSN Code 38231200 have grown at 17.42% CAGR, reaching ₹277.88 Crore in FY 2024-25. ### HSN Code 38231200 contributes 2.90% of Sub-Chapter 3823 exports — ranked #3 Among the 13 HSN codes under Sub-Chapter 3823, HSN Code 38231200 ranks #3 by export value — accounting for 2.90% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 3.29% share (rank #5). ## Related HSN Codes in Sub-Chapter 3823 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 38231900: Industrial monocarboxylic fatty acids; acid oils from refining: Other](https://busy.in/hsn/hsn-38231900/) | ₹2,573 Cr | | #2 | [HSN Code 38237090: Industrial Fatty Alcohols\| Other](https://busy.in/hsn/hsn-38237090/) | ₹890 Cr | | #3 | HSN Code 38231200: Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils (this hsn code) | ₹105 Cr | | #4 | [HSN Code 38231100: Composite Diagnostic Chemicals](https://busy.in/hsn/hsn-38231100/) | ₹36 Cr | | #5 | [HSN Code 38237040: Stearyl Alcohol](https://busy.in/hsn/hsn-38237040/) | ₹4 Cr | | #6 | [HSN Code 38231300: Tall Oil Fatty Acids](https://busy.in/hsn/hsn-38231300/) | ₹3 Cr | | #7 | [HSN Code 38237020: Industrial Alcohols\| Lauryl Alcohol](https://busy.in/hsn/hsn-38237020/) | ₹1 Cr | | #8 | [HSN Code 38237010: Hooks, Eyes And Eyelets \| Hooks And Eyes](https://busy.in/hsn/hsn-38237010/) | < ₹1 Crore | | — | [HSN Code 38231111: Stearic Acid: RBD Palm Stearin](https://busy.in/hsn/hsn-38231111/) | Nil | | — | [HSN Code 38231112: Stearic Acid: Other Palm Stearin](https://busy.in/hsn/hsn-38231112/) | Nil |