HSN Code 98010015: Machinery: Oil exploration

HSN Code 98010015 represents Machinery: Oil exploration under GST classification. This code helps businesses identify Machinery: Oil exploration correctly for billing, taxation, and trade. With HSN Code 98010015, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Machinery: Oil exploration.

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Description of Goods for HSN Code 98010015

HSN Code 98010015 relates to the following description.

Description of Goods

Machinery : Project for exploration of oil or other minerals

Chapter

98 - Project imports; laboratory chemicals; passengers' baggage, personal importations by air or post; ship stores

Sub Chapter

9801 - All items of machinery including prime movers, instruments, apparatus and appliances, control gear and transmission equipment, auxiliary equipment (including those required for research and development purposes, testing and quality control), as well as all components (whether finished or not) or raw materials for the manufacture of the aforesaid items and their components, required for the initial setting up of a unit, or the substantial expansion of an existing unit, of a specified : (1) industrial plant, (2) irrigation project, (3) power project, (4) mining project, (5) project for the exploration for oil or other minerals, and (6) such other projects as the central government may, having regard to the economic development of the country notify in the official gazette in this behalf; and spare parts, other raw materials (including semi-finished material) or consumable stores not exceeding 10% of the value of the goods specified above provided that such spare parts, raw materials or consumable stores are essential for the maintenance of the plant or project mentioned in (1) to (6) above

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 98010015 not include?

Machinery: Oil exploration does not include products with the following descriptions.

HSN Code 98010020

Components (whether or not finished or not) or raw materials for the manufacture of aforesaid items required for the initial setting up of a unit or the substantial expansion of a unit

HSN Code 98010030

Spare parts and other raw materials (including semi-finished materials or consumable stores for the maintenance of plant or project

India’s Trade Performance — HSN Code 98010015 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

Nil

−100.00% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

₹6 Cr

First year of recorded data

0.0001% of India’s total imports

Trade Balance

FY 2024-25

−₹6 Cr

Trade Deficit

Surplus rank #8706 of 12657 HSN codes

% of Sub-Chapter 9801

FY 2024-25

0.00%

Share of Sub-Chapter 9801’s total exports in FY 2024-25

Import side: 0.06% of Sub-Chapter 9801’s imports

At a glance

+266.67%

Peak Growth Year

FY 2023-24 · strongest single-year move

0.00%

Contribution to Sub-Ch. 9801

Share of Sub-Chapter 9801 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 98010015

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

Balance

−98.88

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 9801

Imports

98.88 ₹ Cr

0.0028% share

— YoY

0.60% of Sub-Ch. 9801

FY 2019-20

Balance

−479.95

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 9801

Imports

479.95 ₹ Cr

0.0143% share

+385.39% YoY

3.34% of Sub-Ch. 9801

FY 2020-21

Balance

−61.88

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 9801

Imports

61.88 ₹ Cr

0.0021% share

−87.11% YoY

0.56% of Sub-Ch. 9801

FY 2021-22

Balance

−10.99

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 9801

Imports

10.99 ₹ Cr

0.0002% share

−82.24% YoY

0.11% of Sub-Ch. 9801

FY 2022-23 Exp. Rank #10045

Balance

+0.03

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.19% of Sub-Ch. 9801

Imports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Sub-Ch. 9801

FY 2023-24 Exp. Rank #9729

Balance

+0.11

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+266.67% YoY

0.51% of Sub-Ch. 9801

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 9801

FY 2024-25

Balance

−5.85

Exports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Sub-Ch. 9801

Imports

5.85 ₹ Cr

0.0001% share

— YoY

0.06% of Sub-Ch. 9801

CAGR · 7-Year

Exports

—

Imports

−37.58% /yr

Consistently Deficit
Sub-Chapter 9801 total

reference, FY 2024-25

Export

₹26.97 Cr

Import

₹9,123.52 Cr

Trade Balance

−9,096.55

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

Key Trade Insights: HSN Code 98010015 Export-Import Analysis

Export Snapshot for HSN Code 98010015

India exported ₹0.00 Crore worth of Machinery: Oil exploration in FY 2024-25. Multi-year trend data is being compiled for this hsn code.

FY 2023-24 Was the Strongest Growth Year for HSN Code 98010015 Exports

The strongest single-year export movement for HSN Code 98010015 was recorded in FY 2023-24, when exports surged by 266.67% over the prior year.

India Records a Trade Deficit of ₹5.85 Crore in HSN Code 98010015 Goods

In FY 2024-25, India's imports of ₹5.85 Cr exceeded exports of ₹0.00 Cr, resulting in a trade deficit of ₹5.85 Crore — ranking #8706 of 12657 by surplus magnitude.

Import Growth of −37.58% CAGR Signals Stable Import Dependency for Machinery: Oil exploration

India's imports under HSN Code 98010015 have grown at −37.58% CAGR, reaching ₹5.85 Crore in FY 2024-25.

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Frequently Asked Questions

Clear answers to common queries about HSN Code 98010015 and GST compliance.

What products are classified under HSN 98010015 ?

It includes Prepared or Preserved Meat, Fish, Vegetables, Dairy & Fresh Fruits

How should mixed supplies be billed when Machinery: Oil exploration is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Machinery: Oil exploration; Nil for exempt items if applicable).

How much GST applies to Machinery: Oil exploration?

Under HSN 98010015, Machinery: Oil exploration attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Can we claim ITC on inputs used to trade Machinery: Oil exploration?

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

Any common misclassification issue with Machinery: Oil exploration?

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 Machinery: Oil exploration?

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.

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.