1507 HSN Code: Soybean oil & fractions

HSN Sub Chapter 1507 represents Soybean oil & fractions under GST classification. This code helps businesses identify Soybean oil & fractions correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 1507, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Soybean oil & fractions.

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New GST Rate for HSN Code 1507

GST Rate for Soybean oil & fractions under HSN Code 1507. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

15

HSN Code

1507

HSN Description

therefrom (including lanolin)

New GST Rate

5 %
Essential

Old GST Rate

5 %

Tariff HSN Codes under HSN Sub Chapter 1507

Following tariff HSN codes fall under Soybean oil & fractions.

Tariff HSN

15071000

Description

Crude oil, whether or not degummed

Tariff HSN

15079010

Description

Other : Edible grade

Tariff HSN

15079090

Description

Other : Other

India’s Trade Performance — HSN Sub-Chapter 1507 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

₹219 Cr

+26.69% vs FY 2023-24

0.0059% of India’s total exports

India’s Imports

FY 2024-25

₹42,790 Cr

+56.77% vs FY 2023-24

0.7017% of India’s total imports

Trade Balance

FY 2024-25

−₹42,571 Cr

Trade Deficit

Surplus rank #1200 of 1233 subchapters

% of Chapter 15

FY 2024-25

1.27%

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

Import side: 28.79% of Chapter 15’s imports

Rank Within Chapter 15

FY 2024-25

#9 of 21

Position by export value among subchapters in Chapter 15

Import-side rank: #2 of 21

At a glance

22.12%

Export CAGR

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

#685

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+68.41%

Peak Growth Year

FY 2019-20 · strongest single-year move

1.27%

Contribution to Ch. 15

Share of Chapter 15 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 1507

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 #793

Balance

−16,478.50

Exports

65.93 ₹ Cr

0.0029% share

— YoY

0.86% of Ch. 15

Imports

16,544.43 ₹ Cr

0.4607% share

— YoY

23.72% of Ch. 15

FY 2019-20 Exp. Rank #708

Balance

−17,212.47

Exports

111.03 ₹ Cr

0.0050% share

+68.41% YoY

1.35% of Ch. 15

Imports

17,323.50 ₹ Cr

0.5164% share

+4.71% YoY

24.77% of Ch. 15

FY 2020-21 Exp. Rank #658

Balance

−23,003.66

Exports

149.02 ₹ Cr

0.0069% share

+34.22% YoY

1.23% of Ch. 15

Imports

23,152.68 ₹ Cr

0.7946% share

+33.65% YoY

27.65% of Ch. 15

FY 2021-22 Exp. Rank #709

Balance

−41,120.65

Exports

156.57 ₹ Cr

0.0050% share

+5.07% YoY

1.36% of Ch. 15

Imports

41,277.22 ₹ Cr

0.9031% share

+78.28% YoY

28.62% of Ch. 15

FY 2022-23 Exp. Rank #658

Balance

−47,023.41

Exports

235.17 ₹ Cr

0.0065% share

+50.20% YoY

1.42% of Ch. 15

Imports

47,258.58 ₹ Cr

0.8219% share

+14.49% YoY

27.87% of Ch. 15

FY 2023-24 Exp. Rank #719

Balance

−27,122.24

Exports

172.62 ₹ Cr

0.0048% share

−26.60% YoY

1.14% of Ch. 15

Imports

27,294.86 ₹ Cr

0.4860% share

−42.24% YoY

21.90% of Ch. 15

FY 2024-25 Exp. Rank #685

Balance

−42,571.15

Exports

218.70 ₹ Cr

0.0059% share

+26.69% YoY

1.27% of Ch. 15

Imports

42,789.85 ₹ Cr

0.7017% share

+56.77% YoY

28.79% of Ch. 15

CAGR · 7-Year

Exports

22.12% /yr

Imports

17.16% /yr

Consistently Deficit
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 1507 Export-Import Analysis

Consistent Export Growth: 22.12% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 1507 have grown at a compound annual rate of 22.12% over 7 fiscal years, rising from ₹65.93 Crore in FY 2018-19 to ₹218.70 Crore in FY 2024-25.

HSN Sub-Chapter 1507 Ranked #685 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 1507 ranks #685 out of 1233 subchapters by total export value. Within Chapter 15, it ranks #9 of 21. By trade surplus, it ranks #1200 of 1233.

FY 2019-20 Was the Strongest Growth Year for HSN Sub-Chapter 1507 Exports

The strongest single-year export movement for HSN Sub-Chapter 1507 was recorded in FY 2019-20, when exports surged by 68.41% over the prior year.

India Records a Trade Deficit of ₹42,571.15 Crore in HSN Sub-Chapter 1507 Goods

In FY 2024-25, India's imports of ₹42,789.85 Cr exceeded exports of ₹218.70 Cr, resulting in a trade deficit of ₹42,571.15 Crore — ranking #1200 of 1233 by surplus magnitude.

Import Growth of 17.16% CAGR Signals Rising Demand for Soybean oil & fractions

India's imports under HSN Sub-Chapter 1507 have grown at 17.16% CAGR, reaching ₹42,789.85 Crore in FY 2024-25.

HSN Sub-Chapter 1507 Contributes 1.27% of Chapter 15 Exports — Ranked #9

Among the 21 subchapters under Chapter 15, HSN Sub-Chapter 1507 ranks #9 by export value — accounting for 1.27% of the chapter's total exports in FY 2024-25. On the import side, it holds 28.79% share (rank #2).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 1507 and GST compliance.

What products are classified under HSN 1507

It includes Soybean oil & fractions

Is the composition scheme suitable if I mainly trade Soybean oil & 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.

What should my invoice and records include for Soybean oil & fractions?

Include HSN, exact description, pack size/grade, quantity, and if pre‑packaged & labelled. Maintain purchase specs, test reports (where relevant), and job‑work challans for audit trail.

Can reverse charge ever apply to transactions involving Soybean oil & fractions?

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

If I repair and return Soybean oil & 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.

Any special steps when selling Soybean oil & fractions through an e‑commerce platform?

Ensure registration requirements are met and reconcile the operator’s TCS statements with your GSTR‑2B/3B. Map SKU descriptions to HSN to reduce mismatches and returns.

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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