HSN Code 40023100: Chemically Modified Natural Rubber

HSN Code 40023100 represents Chemically Modified Natural Rubber under GST classification. This code helps businesses identify Chemically Modified Natural Rubber correctly for billing, taxation, and trade. With HSN Code 40023100, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Chemically Modified Natural Rubber.

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Description of Goods for HSN Code 40023100

HSN Code 40023100 relates to the following description.

Description of Goods

Isobutene-isoprene (butyl) rubber (IIR); halo-isobutene-isoprene rubber (CIIR or BIIR) : Isobutene-isoprene (butyl) rubber (IIR)

Chapter

40 - Rubber and articles thereof

Sub Chapter

4002 - Synthetic rubber and factice derived form oils, in primary forms or in plates, sheets or strip; mixtures of any product of heading 4001 with any product of this heading, in primary forms or in plates, sheets or strip

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 40023100 not include?

Chemically Modified Natural Rubber does not include products with the following descriptions.

HSN Code 40021100

Styrene-butadiene rubber (SBR); carboxylated styrene-butadiene rubber (XSBR) : Latex

HSN Code 40021910

Styrene-butadiene rubber (SBR); carboxylated styrene-butadiene rubber (XSBR) : Other : Oil extended styrene butadiene rubber

HSN Code 40021920

Styrene-butadiene rubber (SBR); carboxylated styrene-butadiene rubber (XSBR) : Other : Styrene butadiene rubber with styrene content exceeding 50%

HSN Code 40021930

Styrene-butadiene rubber (SBR); carboxylated styrene-butadiene rubber (XSBR) : Other : Styrene butadiene styrene oil bound copolymer

HSN Code 40021990

Styrene-butadiene rubber (SBR); carboxylated styrene-butadiene rubber (XSBR) : Other : Other

HSN Code 40023900

Isobutene-isoprene (butyl) rubber (IIR); halo-isobutene-isoprene rubber (CIIR or BIIR) : Other

HSN Code 40028010

Mixtures of any product of heading 40 01 with any product of this heading : Latex

HSN Code 40028020

Mixtures of any product of heading 40 01 with any product of this heading : Chemically modified form of natural rubber including graft rubber

HSN Code 40028090

Mixtures of any product of heading 40 01 with any product of this heading : Other

HSN Code 40029920

Other : Other : Tread rubber compound, cushion compound, cushion gum and tread gum for resoling or repairing or retreading rubber tyres

India’s Trade Performance — HSN Code 40023100 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

₹349 Cr

+76.65% vs FY 2023-24

0.0095% of India’s total exports

India’s Imports

FY 2024-25

₹292 Cr

−21.82% vs FY 2023-24

0.0048% of India’s total imports

Trade Balance

FY 2024-25

₹58 Cr

Trade Surplus

Surplus rank #2044 of 12657 HSN codes

% of Sub-Chapter 4002

FY 2024-25

25.28%

Share of Sub-Chapter 4002’s total exports in FY 2024-25

Import side: 2.48% of Sub-Chapter 4002’s imports

Rank Within Sub-Chapter 4002

FY 2024-25

#2 of 21

Position by export value among HSN codes in Sub-Chapter 4002

Import-side rank: #10 of 21

At a glance

117.61%

Export CAGR

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

#1300

National Export Rank

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

+1,303.04%

Peak Growth Year

FY 2019-20 · strongest single-year move

25.28%

Contribution to Sub-Ch. 4002

Share of Sub-Chapter 4002 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 40023100

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 #6365

Balance

−1,005.59

Exports

3.29 ₹ Cr

0.0001% share

— YoY

0.45% of Sub-Ch. 4002

Imports

1,008.88 ₹ Cr

0.0281% share

— YoY

12.78% of Sub-Ch. 4002

FY 2019-20 Exp. Rank #2995

Balance

−567.34

Exports

46.16 ₹ Cr

0.0021% share

+1,303.04% YoY

6.08% of Sub-Ch. 4002

Imports

613.50 ₹ Cr

0.0183% share

−39.19% YoY

10.09% of Sub-Ch. 4002

FY 2020-21 Exp. Rank #1161

Balance

−204.34

Exports

252.81 ₹ Cr

0.0118% share

+447.68% YoY

30.81% of Sub-Ch. 4002

Imports

457.15 ₹ Cr

0.0157% share

−25.48% YoY

7.29% of Sub-Ch. 4002

FY 2021-22 Exp. Rank #1668

Balance

−261.67

Exports

196.20 ₹ Cr

0.0063% share

−22.39% YoY

17.19% of Sub-Ch. 4002

Imports

457.87 ₹ Cr

0.0100% share

+0.16% YoY

5.00% of Sub-Ch. 4002

FY 2022-23 Exp. Rank #2072

Balance

−280.56

Exports

147.45 ₹ Cr

0.0041% share

−24.85% YoY

15.30% of Sub-Ch. 4002

Imports

428.01 ₹ Cr

0.0074% share

−6.52% YoY

3.85% of Sub-Ch. 4002

FY 2023-24 Exp. Rank #1794

Balance

−175.30

Exports

197.79 ₹ Cr

0.0055% share

+34.14% YoY

18.03% of Sub-Ch. 4002

Imports

373.09 ₹ Cr

0.0066% share

−12.83% YoY

3.78% of Sub-Ch. 4002

FY 2024-25 Exp. Rank #1300

Balance

+57.70

Exports

349.39 ₹ Cr

0.0095% share

+76.65% YoY

25.28% of Sub-Ch. 4002

Imports

291.69 ₹ Cr

0.0048% share

−21.82% YoY

2.48% of Sub-Ch. 4002

CAGR · 7-Year

Exports

117.61% /yr

Imports

−18.68% /yr

Consistently Surplus
Sub-Chapter 4002 total

reference, FY 2024-25

Export

₹1,382.02 Cr

Import

₹11,779.35 Cr

Trade Balance

−10,397.33

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

Key Trade Insights: HSN Code 40023100 Export-Import Analysis

Consistent Export Growth: 117.61% CAGR Over 7 Years

India's exports under HSN Code 40023100 have grown at a compound annual rate of 117.61% over 7 fiscal years, rising from ₹3.29 Crore in FY 2018-19 to ₹349.39 Crore in FY 2024-25.

HSN Code 40023100 Ranked #1300 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 40023100 ranks #1300 out of 12657 HSN codes by total export value. Within Sub-Chapter 4002, it ranks #2 of 21. By trade surplus, it ranks #2044 of 12657.

FY 2019-20 Was the Strongest Growth Year for HSN Code 40023100 Exports

The strongest single-year export movement for HSN Code 40023100 was recorded in FY 2019-20, when exports surged by 1,303.04% over the prior year.

India Maintains a Trade Surplus of ₹57.70 Crore in HSN Code 40023100 Goods

In FY 2024-25, India's exports of ₹349.39 Cr exceeded imports of ₹291.69 Cr, resulting in a trade surplus of ₹57.70 Crore — ranking #2044 of 12657 by surplus magnitude.

Import Growth of −18.68% CAGR Signals Stable Import Dependency for Chemically Modified Natural Rubber

India's imports under HSN Code 40023100 have grown at −18.68% CAGR, reaching ₹291.69 Crore in FY 2024-25.

HSN Code 40023100 Contributes 25.28% of Sub-Chapter 4002 Exports — Ranked #2

Among the 21 HSN codes under Sub-Chapter 4002, HSN Code 40023100 ranks #2 by export value — accounting for 25.28% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 2.48% share (rank #10).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 40023100 and GST compliance.

What products are classified under HSN 40023100 ?

It includes Chemically Modified Natural Rubber

Do e‑way bill and e‑invoice apply for Chemically Modified Natural Rubber?

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.

How should mixed supplies be billed when Chemically Modified Natural Rubber is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Chemically Modified Natural Rubber; Nil for exempt items if applicable).

Does packaging or labelling change the GST for Chemically Modified Natural Rubber?

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 much GST applies to Chemically Modified Natural Rubber?

Under HSN 40023100, Chemically Modified Natural Rubber attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Can we claim ITC on inputs used to trade Chemically Modified Natural Rubber?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

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.