1504 HSN Code: Fish oils & their fractions

HSN Sub Chapter 1504 represents Fish oils & their fractions under GST classification. This code helps businesses identify Fish oils & their fractions correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 1504, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Fish oils & their fractions.

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New GST Rate for HSN Code 1504

GST Rate for Fish oils & their fractions under HSN Code 1504. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

15

HSN Code

1504

HSN Description

Fats and oils and their fractions, of fish or marine mammals, whether or not refined, but not chemically modified

New GST Rate

5 %
Essential

Old GST Rate

12 %

Tariff HSN Codes under HSN Sub Chapter 1504

Following tariff HSN codes fall under Fish oils & their fractions.

Tariff HSN

15041010

Description

Fish liver oils and their fractions : Cod liver oil

Tariff HSN

15041091

Description

Fish liver oils and their fractions : Other : Squid liver oil

Tariff HSN

15041099

Description

Fish liver oils and their fractions: Other : Other

Tariff HSN

15042010

Description

Fats and oils and their fractions of fish, other than liver oils : Fish body oil

Tariff HSN

15042020

Description

Fats and oils and their fractions of fish, other than liver oils : Fish lipid oil

Tariff HSN

15042030

Description

Fats and oils and their fractions of fish, other than liver oils : Sperm oil

Tariff HSN

15042090

Description

Fats and oils and their fractions of fish, other than liver oils : Other

Tariff HSN

15043000

Description

Fats and oils and their fractions, of marine mammals

India’s Trade Performance — HSN Sub-Chapter 1504 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

₹403 Cr

−29.63% vs FY 2023-24

0.0109% of India’s total exports

India’s Imports

FY 2024-25

₹206 Cr

+5.07% vs FY 2023-24

0.0034% of India’s total imports

Trade Balance

FY 2024-25

₹198 Cr

Trade Surplus

Surplus rank #330 of 1233 subchapters

% of Chapter 15

FY 2024-25

2.34%

Share of Chapter 15’s total exports in FY 2024-25

Import side: 0.14% of Chapter 15’s imports

Rank Within Chapter 15

FY 2024-25

#6 of 21

Position by export value among subchapters in Chapter 15

Import-side rank: #9 of 21

At a glance

40.84%

Export CAGR

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

#568

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+4,756.89%

Peak Growth Year

FY 2022-23 · strongest single-year move

2.34%

Contribution to Ch. 15

Share of Chapter 15 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 1504

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 #833

Balance

−12.72

Exports

51.70 ₹ Cr

0.0023% share

— YoY

0.67% of Ch. 15

Imports

64.42 ₹ Cr

0.0018% share

— YoY

0.09% of Ch. 15

FY 2019-20 Exp. Rank #947

Balance

−66.13

Exports

20.15 ₹ Cr

0.0009% share

−61.03% YoY

0.24% of Ch. 15

Imports

86.28 ₹ Cr

0.0026% share

+33.93% YoY

0.12% of Ch. 15

FY 2020-21 Exp. Rank #1017

Balance

−64.11

Exports

7.38 ₹ Cr

0.0003% share

−63.37% YoY

0.06% of Ch. 15

Imports

71.49 ₹ Cr

0.0025% share

−17.14% YoY

0.09% of Ch. 15

FY 2021-22 Exp. Rank #968

Balance

−91.31

Exports

20.55 ₹ Cr

0.0007% share

+178.46% YoY

0.18% of Ch. 15

Imports

111.86 ₹ Cr

0.0024% share

+56.47% YoY

0.08% of Ch. 15

FY 2022-23 Exp. Rank #378

Balance

+903.46

Exports

998.09 ₹ Cr

0.0276% share

+4,756.89% YoY

6.02% of Ch. 15

Imports

94.63 ₹ Cr

0.0016% share

−15.40% YoY

0.06% of Ch. 15

FY 2023-24 Exp. Rank #491

Balance

+377.43

Exports

573.26 ₹ Cr

0.0158% share

−42.56% YoY

3.79% of Ch. 15

Imports

195.83 ₹ Cr

0.0035% share

+106.94% YoY

0.16% of Ch. 15

FY 2024-25 Exp. Rank #568

Balance

+197.67

Exports

403.43 ₹ Cr

0.0109% share

−29.63% YoY

2.34% of Ch. 15

Imports

205.76 ₹ Cr

0.0034% share

+5.07% YoY

0.14% of Ch. 15

CAGR · 7-Year

Exports

40.84% /yr

Imports

21.35% /yr

Consistently Surplus
Chapter 15 total

reference, FY 2024-25

Export

₹17,272.98 Cr

Import

₹1,48,631.21 Cr

Trade Balance

−1,31,358.23

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

Key Trade Insights: HSN Sub-Chapter 1504 Export-Import Analysis

Consistent Export Growth: 40.84% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 1504 have grown at a compound annual rate of 40.84% over 7 fiscal years, rising from ₹51.70 Crore in FY 2018-19 to ₹403.43 Crore in FY 2024-25.

HSN Sub-Chapter 1504 Ranked #568 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 1504 ranks #568 out of 1233 subchapters by total export value. Within Chapter 15, it ranks #6 of 21. By trade surplus, it ranks #330 of 1233.

FY 2022-23 Was the Strongest Growth Year for HSN Sub-Chapter 1504 Exports

The strongest single-year export movement for HSN Sub-Chapter 1504 was recorded in FY 2022-23, when exports surged by 4,756.89% over the prior year.

India Maintains a Trade Surplus of ₹197.67 Crore in HSN Sub-Chapter 1504 Goods

In FY 2024-25, India's exports of ₹403.43 Cr exceeded imports of ₹205.76 Cr, resulting in a trade surplus of ₹197.67 Crore — ranking #330 of 1233 by surplus magnitude.

Import Growth of 21.35% CAGR Signals Rising Demand for Fish oils & their fractions

India's imports under HSN Sub-Chapter 1504 have grown at 21.35% CAGR, reaching ₹205.76 Crore in FY 2024-25.

HSN Sub-Chapter 1504 Contributes 2.34% of Chapter 15 Exports — Ranked #6

Among the 21 subchapters under Chapter 15, HSN Sub-Chapter 1504 ranks #6 by export value — accounting for 2.34% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.14% share (rank #9).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 1504 and GST compliance.

What products are classified under HSN 1504

It includes Fish oils & their fractions

If I repair and return Fish oils & their fractions, how should I charge GST?

Repair/service is a service supply (SAC). Parts and materials used are goods and may be billed separately with HSN. Mention both lines clearly to avoid mixing service and goods values.

Is the composition scheme suitable if I mainly trade Fish oils & their fractions?

The composition scheme is optional for eligible small suppliers of goods. You cannot issue tax invoices or collect tax under composition. Check turnover limits and exclusions; evaluate margins and ITC loss before opting in.

Can reverse charge ever apply to transactions involving Fish oils & their fractions?

Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Fish oils & their fractions are forward charge. Check the current notifications for any special cases before deciding.

Do spares or accessories of Fish oils & their fractions follow the same HSN?

Not always. Spares are often classified by their own description or by the function/part rule. Check if a specific sub‑heading exists for parts of the main item and describe the part on the invoice.

How are warranty replacements of Fish oils & their fractions handled?

If replacement is without consideration under a pre‑agreed warranty, issue a delivery challan and reference the original invoice/contract. If consideration is charged, raise a tax invoice. Keep serial/lot details for traceability.

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.

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