HSN Code 38231200: Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils

HSN Code 38231200 represents Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils under GST classification. This code helps businesses identify Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils correctly for billing, taxation, and trade. With HSN Code 38231200, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils.

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Description of Goods for HSN Code 38231200

HSN Code 38231200 relates to the following description.

Description of Goods

Industrial monocarboxylic fatty acids; acid oils from refining : Oleic acid

Chapter

38 - Miscellaneous chemical products

Sub Chapter

3823 - Industrial monocarboxylic fatty acids; acid oils from refining; industrial fatty alcohols

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 38231200 not include?

Oleic Acid: Industrial Monocarboxylic Fatty Acids and Acid Oils does not include products with the following descriptions.

HSN Code 38231100

Industrial monocarboxylic fatty acids; acid oils from refining :Stearic acid : Palm stearin : Stearic acid

HSN Code 38231111

Industrial monocarboxylic fatty acids; acid oils from refining; industrial fatty alcohols industrial monocarboxylic fatty acids; acid oils from refining: stearic acid: palm stearin: crude

HSN Code 38231112

Industrial monocarboxylic fatty acids; acid oils from refining; industrial fatty alcohols industrial monocarboxylic fatty acids; acid oils from refining: stearic acid: palm stearin: rbd

HSN Code 38231119

Industrial monocarboxylic fatty acids; acid oils from refining; industrial fatty alcohols industrial monocarboxylic fatty acids; acid oils from refining: stearic acid: palm stearin: other

HSN Code 38231190

Industrial monocarboxylic fatty acids; acid oils from refining; industrial fatty alcohols industrial monocarboxylic fatty acids; acid oils from refining: stearic acid: other stearic acid or stearin

HSN Code 38231300

Industrial monocarboxylic fatty acids; acid oils from refining : Tall oil fatty acids

India’s Trade Performance — HSN Code 38231200 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

₹105 Cr

−15.71% vs FY 2023-24

0.0029% of India’s total exports

India’s Imports

FY 2024-25

₹278 Cr

+6.70% vs FY 2023-24

0.0046% of India’s total imports

Trade Balance

FY 2024-25

−₹173 Cr

Trade Deficit

Surplus rank #11205 of 12657 HSN codes

% of Sub-Chapter 3823

FY 2024-25

2.90%

Share of Sub-Chapter 3823’s total exports in FY 2024-25

Import side: 3.29% of Sub-Chapter 3823’s imports

Rank Within Sub-Chapter 3823

FY 2024-25

#3 of 13

Position by export value among HSN codes in Sub-Chapter 3823

Import-side rank: #5 of 13

At a glance

36.21%

Export CAGR

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

#2594

National Export Rank

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

+111.92%

Peak Growth Year

FY 2022-23 · strongest single-year move

2.90%

Contribution to Sub-Ch. 3823

Share of Sub-Chapter 3823 exports in FY 2024-25

India Export-Import Trade Statistics for 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 2018-19 Exp. Rank #4348

Balance

−89.59

Exports

16.43 ₹ Cr

0.0007% share

— YoY

1.08% of Sub-Ch. 3823

Imports

106.02 ₹ Cr

0.0030% share

— YoY

2.15% of Sub-Ch. 3823

FY 2019-20 Exp. Rank #4522

Balance

−139.33

Exports

14.71 ₹ Cr

0.0007% share

−10.47% YoY

1.04% of Sub-Ch. 3823

Imports

154.04 ₹ Cr

0.0046% share

+45.29% YoY

4.55% of Sub-Ch. 3823

FY 2020-21 Exp. Rank #4076

Balance

−143.44

Exports

21.91 ₹ Cr

0.0010% share

+48.95% YoY

1.58% of Sub-Ch. 3823

Imports

165.35 ₹ Cr

0.0057% share

+7.34% YoY

3.88% of Sub-Ch. 3823

FY 2021-22 Exp. Rank #3508

Balance

−233.82

Exports

44.80 ₹ Cr

0.0014% share

+104.47% YoY

1.77% of Sub-Ch. 3823

Imports

278.62 ₹ Cr

0.0061% share

+68.50% YoY

3.94% of Sub-Ch. 3823

FY 2022-23 Exp. Rank #2601

Balance

−274.35

Exports

94.94 ₹ Cr

0.0026% share

+111.92% YoY

2.38% of Sub-Ch. 3823

Imports

369.29 ₹ Cr

0.0064% share

+32.54% YoY

4.96% of Sub-Ch. 3823

FY 2023-24 Exp. Rank #2320

Balance

−135.96

Exports

124.47 ₹ Cr

0.0034% share

+31.10% YoY

4.54% of Sub-Ch. 3823

Imports

260.43 ₹ Cr

0.0046% share

−29.48% YoY

4.46% of Sub-Ch. 3823

FY 2024-25 Exp. Rank #2594

Balance

−172.97

Exports

104.91 ₹ Cr

0.0029% share

−15.71% YoY

2.90% of Sub-Ch. 3823

Imports

277.88 ₹ Cr

0.0046% share

+6.70% YoY

3.29% of Sub-Ch. 3823

CAGR · 7-Year

Exports

36.21% /yr

Imports

17.42% /yr

Consistently Deficit
Sub-Chapter 3823 total

reference, FY 2024-25

Export

₹3,612.42 Cr

Import

₹8,438.65 Cr

Trade Balance

−4,826.23

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

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).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 38231200 and GST compliance.

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).

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.