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2938 HSN Code: Natural glycosides & derivatives

HSN Sub Chapter 2938 represents Natural glycosides & derivatives under GST classification. This code helps businesses identify Natural glycosides & derivatives correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 2938, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Natural glycosides & derivatives.

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New GST Rate for HSN Code 2938

GST Rate for Natural glycosides & derivatives under HSN Code 2938. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

29

HSN Code

2938

HSN Description

Glycosides, natural or reproduced by synthesis and their salts, ethers, esters and other derivatives

New GST Rate

5% or 18%

5% for drugs and bulk drugs (APIs) of this heading, including their salts and esters; 18% for other goods.

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 2938

Following tariff HSN codes fall under Natural glycosides & derivatives.

Tariff HSN

29381000

Description

Rutoside (rutin) and its derivatives

Tariff HSN

29389010

Description

Other :Digoxin

Tariff HSN

29389020

Description

Other :Digitalis glycosides

Tariff HSN

29389090

Description

Other :Other

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India’s Trade Performance — HSN Sub-Chapter 2938 in FY 2025-26

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2025-26 Values in ₹ Crore

India’s Exports

FY 2025-26

₹685 Cr

+56.23% vs FY 2024-25

0.0175% of India’s total exports

India’s Imports

FY 2025-26

₹612 Cr

−11.75% vs FY 2024-25

0.0089% of India’s total imports

Trade Balance

FY 2025-26

₹72 Cr

Trade Surplus

Surplus rank #409 of 1233 subchapters

% of Chapter 29

FY 2025-26

0.38%

Share of Chapter 29’s total exports in FY 2025-26

Import side: 0.27% of Chapter 29’s imports

Rank Within Chapter 29

FY 2025-26

#34 of 42

Position by export value among subchapters in Chapter 29

Import-side rank: #34 of 42

At a glance

13.59%

Export CAGR

FY 2018-19 → FY 2025-26 · 8 fiscal years

#484

National Export Rank

of 1233 subchapters by export value, FY 2025-26

+56.23%

Peak Growth Year

FY 2025-26 · strongest single-year move

0.38%

Contribution to Ch. 29

Share of Chapter 29 exports in FY 2025-26

India Export-Import Trade Statistics for HSN Sub-Chapter 2938

8-year export and import data, FY 2018-19 to FY 2025-26, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #544

Balance

−235.09

Exports

280.65 ₹ Cr

0.0122% share

— YoY

0.22% of Ch. 29

Imports

515.74 ₹ Cr

0.0144% share

— YoY

0.33% of Ch. 29

FY 2019-20 Exp. Rank #623

Balance

−306.53

Exports

168.56 ₹ Cr

0.0076% share

−39.94% YoY

0.14% of Ch. 29

Imports

475.09 ₹ Cr

0.0142% share

−7.88% YoY

0.34% of Ch. 29

FY 2020-21 Exp. Rank #581

Balance

−306.95

Exports

226.27 ₹ Cr

0.0105% share

+34.24% YoY

0.17% of Ch. 29

Imports

533.22 ₹ Cr

0.0183% share

+12.24% YoY

0.37% of Ch. 29

FY 2021-22 Exp. Rank #595

Balance

−183.82

Exports

284.19 ₹ Cr

0.0091% share

+25.60% YoY

0.17% of Ch. 29

Imports

468.01 ₹ Cr

0.0102% share

−12.23% YoY

0.22% of Ch. 29

FY 2022-23 Exp. Rank #591

Balance

−253.97

Exports

343.87 ₹ Cr

0.0095% share

+21.00% YoY

0.20% of Ch. 29

Imports

597.84 ₹ Cr

0.0104% share

+27.74% YoY

0.26% of Ch. 29

FY 2023-24 Exp. Rank #559

Balance

−221.75

Exports

423.12 ₹ Cr

0.0117% share

+23.05% YoY

0.25% of Ch. 29

Imports

644.87 ₹ Cr

0.0115% share

+7.87% YoY

0.29% of Ch. 29

FY 2024-25 Exp. Rank #560

Balance

−255.73

Exports

438.20 ₹ Cr

0.0118% share

+3.56% YoY

0.26% of Ch. 29

Imports

693.93 ₹ Cr

0.0114% share

+7.61% YoY

0.31% of Ch. 29

FY 2025-26 Exp. Rank #484

Balance

+72.23

Exports

684.61 ₹ Cr

0.0175% share

+56.23% YoY

0.38% of Ch. 29

Imports

612.38 ₹ Cr

0.0089% share

−11.75% YoY

0.27% of Ch. 29

CAGR · 8-Year

Exports

13.59% /yr

Imports

2.48% /yr

Consistently Surplus
Chapter 29 total

reference, FY 2025-26

Export

₹1,80,641.82 Cr

Import

₹2,24,278.97 Cr

Trade Balance

−43,637.15

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

Key Trade Insights: HSN Sub-Chapter 2938 Export-Import Analysis

Consistent Export Growth: 13.59% CAGR Over 8 Years

India's exports under HSN Sub-Chapter 2938 have grown at a compound annual rate of 13.59% over 8 fiscal years, rising from ₹280.65 Crore in FY 2018-19 to ₹684.61 Crore in FY 2025-26.

HSN Sub-Chapter 2938 Ranked #484 Among All 1233 Subchapters by Export Value

In FY 2025-26, HSN Sub-Chapter 2938 ranks #484 out of 1233 subchapters by total export value. Within Chapter 29, it ranks #34 of 42. By trade surplus, it ranks #409 of 1233.

FY 2025-26 Was the Strongest Growth Year for HSN Sub-Chapter 2938 Exports

The strongest single-year export movement for HSN Sub-Chapter 2938 was recorded in FY 2025-26, when exports surged by 56.23% over the prior year.

India Maintains a Trade Surplus of ₹72.23 Crore in HSN Sub-Chapter 2938 Goods

In FY 2025-26, India's exports of ₹684.61 Cr exceeded imports of ₹612.38 Cr, resulting in a trade surplus of ₹72.23 Crore — ranking #409 of 1233 by surplus magnitude.

Import Growth of 2.48% CAGR Signals Stable Import Dependency for Natural glycosides & derivatives

India's imports under HSN Sub-Chapter 2938 have grown at 2.48% CAGR, reaching ₹612.38 Crore in FY 2025-26.

HSN Sub-Chapter 2938 Contributes 0.38% of Chapter 29 Exports — Ranked #34

Among the 42 subchapters under Chapter 29, HSN Sub-Chapter 2938 ranks #34 by export value — accounting for 0.38% of the chapter's total exports in FY 2025-26. On the import side, it holds 0.27% share (rank #34).

Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 2938 and GST compliance.

What products are classified under HSN 2938

It includes Natural glycosides & derivatives

Does MRP, weight or pack size change GST treatment for Natural glycosides & derivatives?

Some entries use MRP/weight‑based conditions for classification. Keep pack size, retail marking and brand status on records and invoice to support the chosen HSN.

Can I claim ITC on inputs and services used for Natural glycosides & derivatives?

If your outward supply of Natural glycosides & derivatives 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.

Do spares or accessories of Natural glycosides & derivatives 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.

Any import/export nuance for Natural glycosides & derivatives?

Exports are zero‑rated (with or without payment of IGST) subject to LUT/refund conditions. Imports may attract customs duties in addition to GST. Keep HSN‑wise description consistent across invoice, shipping bill and BOE.

Can reverse charge ever apply to transactions involving Natural glycosides & derivatives?

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

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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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