HSN Code 98010020: Components/raw materials for unit setup

HSN Code 98010020 represents Components/raw materials for unit setup under GST classification. This code helps businesses identify Components/raw materials for unit setup correctly for billing, taxation, and trade. With HSN Code 98010020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Components/raw materials for unit setup.

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Description of Goods for HSN Code 98010020

HSN Code 98010020 relates to the following description.

Description of Goods

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

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 98010020 not include?

Components/raw materials for unit setup does not include products with the following descriptions.

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 98010020 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

< ₹1 Crore

−20.39% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

₹2 Cr

−48.33% vs FY 2023-24

0.0000% of India’s total imports

Trade Balance

FY 2024-25

−₹2 Cr

Trade Deficit

Surplus rank #8109 of 12657 HSN codes

% of Sub-Chapter 9801

FY 2024-25

3.04%

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

Import side: 0.03% of Sub-Chapter 9801’s imports

Rank Within Sub-Chapter 9801

FY 2024-25

#4 of 8

Position by export value among HSN codes in Sub-Chapter 9801

Import-side rank: #8 of 8

At a glance

5.34%

Export CAGR

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

#8412

National Export Rank

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

+850.00%

Peak Growth Year

FY 2021-22 · strongest single-year move

3.04%

Contribution to Sub-Ch. 9801

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

India Export-Import Trade Statistics for HSN Code 98010020

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 #8049

Balance

−1,129.25

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.53% of Sub-Ch. 9801

Imports

1,129.85 ₹ Cr

0.0315% share

— YoY

6.80% of Sub-Ch. 9801

FY 2019-20 Exp. Rank #7594

Balance

−728.37

Exports

1.03 ₹ Cr

0.0000% share

+71.67% YoY

0.47% of Sub-Ch. 9801

Imports

729.40 ₹ Cr

0.0218% share

−35.44% YoY

5.08% of Sub-Ch. 9801

FY 2020-21 Exp. Rank #9824

Balance

−33.19

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−98.06% YoY

0.12% of Sub-Ch. 9801

Imports

33.21 ₹ Cr

0.0011% share

−95.45% YoY

0.30% of Sub-Ch. 9801

FY 2021-22 Exp. Rank #9228

Balance

−172.26

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+850.00% YoY

0.68% of Sub-Ch. 9801

Imports

172.45 ₹ Cr

0.0038% share

+419.27% YoY

1.71% of Sub-Ch. 9801

FY 2022-23 Exp. Rank #9229

Balance

−55.02

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+15.79% YoY

1.37% of Sub-Ch. 9801

Imports

55.24 ₹ Cr

0.0010% share

−67.97% YoY

0.43% of Sub-Ch. 9801

FY 2023-24 Exp. Rank #8225

Balance

−3.77

Exports

1.03 ₹ Cr

0.0000% share

+368.18% YoY

4.78% of Sub-Ch. 9801

Imports

4.80 ₹ Cr

0.0001% share

−91.31% YoY

0.04% of Sub-Ch. 9801

FY 2024-25 Exp. Rank #8412

Balance

−1.66

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−20.39% YoY

3.04% of Sub-Ch. 9801

Imports

2.48 ₹ Cr

0.0000% share

−48.33% YoY

0.03% of Sub-Ch. 9801

CAGR · 7-Year

Exports

5.34% /yr

Imports

−63.95% /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 98010020 Export-Import Analysis

Consistent Export Growth: 5.34% CAGR Over 7 Years

India's exports under HSN Code 98010020 have grown at a compound annual rate of 5.34% over 7 fiscal years, rising from ₹0.60 Crore in FY 2018-19 to ₹0.82 Crore in FY 2024-25.

HSN Code 98010020 Ranked #8412 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 98010020 ranks #8412 out of 12657 HSN codes by total export value. Within Sub-Chapter 9801, it ranks #4 of 8. By trade surplus, it ranks #8109 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 98010020 Exports

The strongest single-year export movement for HSN Code 98010020 was recorded in FY 2021-22, when exports surged by 850.00% over the prior year.

India Records a Trade Deficit of ₹1.66 Crore in HSN Code 98010020 Goods

In FY 2024-25, India's imports of ₹2.48 Cr exceeded exports of ₹0.82 Cr, resulting in a trade deficit of ₹1.66 Crore — ranking #8109 of 12657 by surplus magnitude.

Import Growth of −63.95% CAGR Signals Stable Import Dependency for Components/raw materials for unit setup

India's imports under HSN Code 98010020 have grown at −63.95% CAGR, reaching ₹2.48 Crore in FY 2024-25.

HSN Code 98010020 Contributes 3.04% of Sub-Chapter 9801 Exports — Ranked #4

Among the 8 HSN codes under Sub-Chapter 9801, HSN Code 98010020 ranks #4 by export value — accounting for 3.04% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.03% share (rank #8).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 98010020 and GST compliance.

What products are classified under HSN 98010020 ?

It includes Heterocyclic compounds with oxygen hetero-atom (s) only – other : other

Any common misclassification issue with Components/raw materials for unit setup?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

Does packaging or labelling change the GST for Components/raw materials for unit setup?

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 Components/raw materials for unit setup is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Components/raw materials for unit setup; Nil for exempt items if applicable).

Can we claim ITC on inputs used to trade Components/raw materials for unit setup?

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 Components/raw materials for unit setup?

Under HSN 98010020, Components/raw materials for unit setup attracts Varies when sold in taxable form. Describe the exact form on the invoice.

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.