1508 HSN Code: Ground-nut oil & fractions

HSN Sub Chapter 1508 represents Ground-nut oil & fractions under GST classification. This code helps businesses identify Ground-nut oil & fractions correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 1508, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Ground-nut oil & fractions.

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New GST Rate for HSN Code 1508

GST Rate for Ground-nut oil & fractions under HSN Code 1508. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

15

HSN Code

1508

HSN Description

Soya-bean oil and its fractions, whether or not refined, but not chemically modified

New GST Rate

5 %
Essential

Old GST Rate

5 %

Tariff HSN Codes under HSN Sub Chapter 1508

Following tariff HSN codes fall under Ground-nut oil & fractions.

Tariff HSN

15081000

Description

Crude oil

Tariff HSN

15089010

Description

Other : Deodorized (Salad Oil)

Tariff HSN

15089091

Description

Other : Other : Edible grade

Tariff HSN

15089099

Description

Other : Other : Other

India’s Trade Performance — HSN Sub-Chapter 1508 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

₹3,109 Cr

+64.77% vs FY 2023-24

0.0840% of India’s total exports

India’s Imports

FY 2024-25

₹2 Cr

−65.38% vs FY 2023-24

0.0000% of India’s total imports

Trade Balance

FY 2024-25

₹3,108 Cr

Trade Surplus

Surplus rank #101 of 1233 subchapters

% of Chapter 15

FY 2024-25

18.00%

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

Import side: 0.00% of Chapter 15’s imports

Rank Within Chapter 15

FY 2024-25

#2 of 21

Position by export value among subchapters in Chapter 15

Import-side rank: #16 of 21

At a glance

69.48%

Export CAGR

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

#200

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+758.41%

Peak Growth Year

FY 2020-21 · strongest single-year move

18.00%

Contribution to Ch. 15

Share of Chapter 15 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 1508

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 #670

Balance

+128.83

Exports

131.19 ₹ Cr

0.0057% share

— YoY

1.71% of Ch. 15

Imports

2.36 ₹ Cr

0.0001% share

— YoY

0.00% of Ch. 15

FY 2019-20 Exp. Rank #461

Balance

+392.47

Exports

395.78 ₹ Cr

0.0179% share

+201.68% YoY

4.80% of Ch. 15

Imports

3.31 ₹ Cr

0.0001% share

+40.25% YoY

0.00% of Ch. 15

FY 2020-21 Exp. Rank #129

Balance

+3,396.17

Exports

3,397.40 ₹ Cr

0.1580% share

+758.41% YoY

28.12% of Ch. 15

Imports

1.23 ₹ Cr

0.0000% share

−62.84% YoY

0.00% of Ch. 15

FY 2021-22 Exp. Rank #585

Balance

+293.04

Exports

297.04 ₹ Cr

0.0095% share

−91.26% YoY

2.58% of Ch. 15

Imports

4.00 ₹ Cr

0.0001% share

+225.20% YoY

0.00% of Ch. 15

FY 2022-23 Exp. Rank #248

Balance

+1,966.15

Exports

1,967.27 ₹ Cr

0.0543% share

+562.29% YoY

11.86% of Ch. 15

Imports

1.12 ₹ Cr

0.0000% share

−72.00% YoY

0.00% of Ch. 15

FY 2023-24 Exp. Rank #262

Balance

+1,882.30

Exports

1,887.21 ₹ Cr

0.0522% share

−4.07% YoY

12.49% of Ch. 15

Imports

4.91 ₹ Cr

0.0001% share

+338.39% YoY

0.00% of Ch. 15

FY 2024-25 Exp. Rank #200

Balance

+3,107.77

Exports

3,109.47 ₹ Cr

0.0840% share

+64.77% YoY

18.00% of Ch. 15

Imports

1.70 ₹ Cr

0.0000% share

−65.38% YoY

0.00% of Ch. 15

CAGR · 7-Year

Exports

69.48% /yr

Imports

−5.32% /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 1508 Export-Import Analysis

Consistent Export Growth: 69.48% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 1508 have grown at a compound annual rate of 69.48% over 7 fiscal years, rising from ₹131.19 Crore in FY 2018-19 to ₹3,109.47 Crore in FY 2024-25.

HSN Sub-Chapter 1508 Ranked #200 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 1508 ranks #200 out of 1233 subchapters by total export value. Within Chapter 15, it ranks #2 of 21. By trade surplus, it ranks #101 of 1233.

FY 2020-21 Was the Strongest Growth Year for HSN Sub-Chapter 1508 Exports

The strongest single-year export movement for HSN Sub-Chapter 1508 was recorded in FY 2020-21, when exports surged by 758.41% over the prior year.

India Maintains a Trade Surplus of ₹3,107.77 Crore in HSN Sub-Chapter 1508 Goods

In FY 2024-25, India's exports of ₹3,109.47 Cr exceeded imports of ₹1.70 Cr, resulting in a trade surplus of ₹3,107.77 Crore — ranking #101 of 1233 by surplus magnitude.

Import Growth of −5.32% CAGR Signals Stable Import Dependency for Ground-nut oil & fractions

India's imports under HSN Sub-Chapter 1508 have grown at −5.32% CAGR, reaching ₹1.70 Crore in FY 2024-25.

HSN Sub-Chapter 1508 Contributes 18.00% of Chapter 15 Exports — Ranked #2

Among the 21 subchapters under Chapter 15, HSN Sub-Chapter 1508 ranks #2 by export value — accounting for 18.00% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.00% share (rank #16).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 1508 and GST compliance.

What products are classified under HSN 1508

It includes Ground-nut oil & fractions

Is the composition scheme suitable if I mainly trade Ground-nut 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.

How do I bill a kit or combo that includes Ground-nut oil & fractions?

Prefer separate lines per item with its HSN so each component follows its own tax treatment. If it is a naturally bundled supply, identify the principal supply and tax the whole bundle accordingly.

Can I claim ITC on inputs and services used for Ground-nut oil & fractions?

If your outward supply of Ground-nut oil & fractions is taxable, ITC is generally available (Sections 16–17) except blocked credits (e.g., personal use, motor vehicles in most cases). For exempt supplies, proportionate reversal is required under Rule 42/43.

How are warranty replacements of Ground-nut oil & 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.

If I repair and return Ground-nut 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.

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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