Export Decline: −4.78% CAGR Over 7 Years
India's exports under HSN Sub-Chapter 2516 have declined at a compound annual rate of −4.78% over 7 fiscal years, falling from ₹5,651.09 Crore in FY 2018-19 to ₹4,213.44 Crore in FY 2024-25.
HSN Sub Chapter 2516 represents Granite & other monumental stones under GST classification. This code helps businesses identify Granite & other monumental stones correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 2516, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Granite & other monumental stones.
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GST Rate for Granite & other monumental stones under HSN Code 2516. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.
Following tariff HSN codes fall under Granite & other monumental stones.
Tariff HSN
Description
Granite: Crude or roughly trimmed
Tariff HSN
Description
Granite: Merely cut, by sawing or otherwise, into blocks of a rectangular (including square) shape
Tariff HSN
Description
Granite: Merely cut, by sawing or otherwise, into blocks of a rectangular (including square) shape (Other than blocks)
Tariff HSN
Description
Granite: Sandstone
Tariff HSN
Description
Granite, porphyry, basalt, sandstone and other monumental or building stone, whether or not roughly trimmed or merely cut, by sawing or otherwise, into blocks or slabs of a rectangular (including square) shape - sandstone: crude or roughly trimmed
Tariff HSN
Description
Granite, porphyry, basalt, sandstone and other monumental or building stone, whether or not roughly trimmed or merely cut, by sawing or otherwise, into blocks or slabs of a rectangular (including square) shape - sandstone: merely cut, by sawing or otherwise, into blocks or slabs of a rectangular (including square) shape
Tariff HSN
Description
Other monumental or building stone: Pakur stone
Tariff HSN
Description
Other monumental or building stone: Stone boulders
Tariff HSN
Description
Other monumental or building stone: Other
India’s Exports
FY 2024-25₹4,213 Cr
0.1138% of India’s total exports
India’s Imports
FY 2024-25₹126 Cr
0.0021% of India’s total imports
Trade Balance
FY 2024-25₹4,087 Cr
Surplus rank #83 of 1233 subchapters
% of Chapter 25
FY 2024-2524.42%
Share of Chapter 25’s total exports in FY 2024-25
Import side: 0.30% of Chapter 25’s imports
Rank Within Chapter 25
FY 2024-25#1 of 29
Position by export value among subchapters in Chapter 25
Import-side rank: #20 of 29
At a glance
−4.78%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#147
National Export Rank
of 1233 subchapters by export value, FY 2024-25
+9.35%
Peak Growth Year
FY 2020-21 · strongest single-year move
24.42%
Contribution to Ch. 25
Share of Chapter 25 exports in FY 2024-25
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
+5,501.62
Exports
5,651.09 ₹ Cr
0.2462% share
— YoY
36.24% of Ch. 25
Imports
149.47 ₹ Cr
0.0042% share
— YoY
0.75% of Ch. 25
Balance
+5,248.35
Exports
5,378.83 ₹ Cr
0.2435% share
−4.82% YoY
37.99% of Ch. 25
Imports
130.48 ₹ Cr
0.0039% share
−12.70% YoY
0.70% of Ch. 25
Balance
+5,778.50
Exports
5,881.93 ₹ Cr
0.2735% share
+9.35% YoY
33.39% of Ch. 25
Imports
103.43 ₹ Cr
0.0035% share
−20.73% YoY
0.60% of Ch. 25
Balance
+6,274.57
Exports
6,381.73 ₹ Cr
0.2034% share
+8.50% YoY
37.62% of Ch. 25
Imports
107.16 ₹ Cr
0.0023% share
+3.61% YoY
0.36% of Ch. 25
Balance
+4,903.43
Exports
5,036.27 ₹ Cr
0.1391% share
−21.08% YoY
26.51% of Ch. 25
Imports
132.84 ₹ Cr
0.0023% share
+23.96% YoY
0.35% of Ch. 25
Balance
+4,714.31
Exports
4,832.84 ₹ Cr
0.1336% share
−4.04% YoY
26.24% of Ch. 25
Imports
118.53 ₹ Cr
0.0021% share
−10.77% YoY
0.34% of Ch. 25
Balance
+4,087.03
Exports
4,213.44 ₹ Cr
0.1138% share
−12.82% YoY
24.42% of Ch. 25
Imports
126.41 ₹ Cr
0.0021% share
+6.65% YoY
0.30% of Ch. 25
CAGR · 7-Year
Exports
−4.78% /yr
Imports
−2.75% /yr
reference, FY 2024-25
Export
₹17,254.80 Cr
Import
₹42,072.00 Cr
Trade Balance
−24,817.20
India's exports under HSN Sub-Chapter 2516 have declined at a compound annual rate of −4.78% over 7 fiscal years, falling from ₹5,651.09 Crore in FY 2018-19 to ₹4,213.44 Crore in FY 2024-25.
In FY 2024-25, HSN Sub-Chapter 2516 ranks #147 out of 1233 subchapters by total export value. Within Chapter 25, it ranks #1 of 29. By trade surplus, it ranks #83 of 1233.
The strongest single-year export movement for HSN Sub-Chapter 2516 was recorded in FY 2020-21, when exports surged by 9.35% over the prior year.
In FY 2024-25, India's exports of ₹4,213.44 Cr exceeded imports of ₹126.41 Cr, resulting in a trade surplus of ₹4,087.03 Crore — ranking #83 of 1233 by surplus magnitude.
India's imports under HSN Sub-Chapter 2516 have grown at −2.75% CAGR, reaching ₹126.41 Crore in FY 2024-25.
Among the 29 subchapters under Chapter 25, HSN Sub-Chapter 2516 ranks #1 by export value — accounting for 24.42% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.30% share (rank #20).
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Clear answers to common queries about HSN Sub Chapter 2516 and GST compliance.
It includes Granite & other monumental stones
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.
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.
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.
Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Granite & other monumental stones are forward charge. Check the current notifications for any special cases before deciding.
If your outward supply of Granite & other monumental stones 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.