Consistent Export Growth: 9.69% CAGR Over 7 Years
India's exports under HSN Sub-Chapter 8708 have grown at a compound annual rate of 9.69% over 7 fiscal years, rising from ₹36,459.31 Crore in FY 2018-19 to ₹63,496.30 Crore in FY 2024-25.
HSN Sub Chapter 8708 represents Parts & Accessories For Motor Vehicles under GST classification. This code helps businesses identify Parts & Accessories For Motor Vehicles correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 8708, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Parts & Accessories For Motor Vehicles.
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GST Rate for Parts & Accessories For Motor Vehicles under HSN Code 8708. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.
Following tariff HSN codes fall under Parts & Accessories For Motor Vehicles.
Tariff HSN
Description
Bumpers and parts thereof : For tractors
Tariff HSN
Description
Bumpers and parts thereof : Other
Tariff HSN
Description
Other parts and accessories of bodies (including cabs) : Safety seat belts
Tariff HSN
Description
Other parts and accessories of bodies (including cabs) : Front windscreens (windshields), rear windows and other windows specified in Sub-heading Note 1 to this Chapter
Tariff HSN
Description
Other parts and accessories of bodies (including cabs) : Other
Tariff HSN
Description
Brakes and servo-brakes; parts thereof
Tariff HSN
Description
Parts and accessories of the motor vehicles of headings 8701 to 8705 brakes and servo-brakes and parts thereof mounted brake linings
Tariff HSN
Description
Parts and accessories of the motor vehicles of headings 8701 to 8705 brakes and servo-brakes and parts thereof other
Tariff HSN
Description
Gear boxes and parts thereof
Tariff HSN
Description
Drive-axles with differential, whether or not provided with other transmission components, non-driving axles; parts thereof
Tariff HSN
Description
Parts and accessories of the motor vehicles of headings 8701 to 8705 brakes and servo-brakes and parts thereof non-driving axles and parts thereof
Tariff HSN
Description
Road wheels and parts and accessories thereof
Tariff HSN
Description
Suspension systems and parts thereof (including shock absorbers)
Tariff HSN
Description
Other parts and accessories: Radiators and parts thereof
Tariff HSN
Description
Other parts and accessories: Silencers (mufflers) and exhaust pipes; parts thereof
Tariff HSN
Description
Other parts and accessories: Clutches and parts thereof
Tariff HSN
Description
Other parts and accessories: Steering wheels, steering columns and steering boxes; parts thereof
Tariff HSN
Description
Other parts and accessories: Safety airbags with inflater system; parts thereof
Tariff HSN
Description
Other parts and accessories: Other
India’s Exports
FY 2024-25₹63,496 Cr
1.7145% of India’s total exports
India’s Imports
FY 2024-25₹53,691 Cr
0.8805% of India’s total imports
Trade Balance
FY 2024-25₹9,806 Cr
Surplus rank #27 of 1233 subchapters
% of Chapter 87
FY 2024-2533.14%
Share of Chapter 87’s total exports in FY 2024-25
Import side: 76.85% of Chapter 87’s imports
Rank Within Chapter 87
FY 2024-25#1 of 16
Position by export value among subchapters in Chapter 87
Import-side rank: #1 of 16
At a glance
9.69%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#7
National Export Rank
of 1233 subchapters by export value, FY 2024-25
+38.38%
Peak Growth Year
FY 2021-22 · strongest single-year move
33.14%
Contribution to Ch. 87
Share of Chapter 87 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
+3,534.45
Exports
36,459.31 ₹ Cr
1.5884% share
— YoY
28.81% of Ch. 87
Imports
32,924.86 ₹ Cr
0.9169% share
— YoY
76.51% of Ch. 87
Balance
+5,258.70
Exports
34,213.55 ₹ Cr
1.5490% share
−6.16% YoY
28.90% of Ch. 87
Imports
28,954.85 ₹ Cr
0.8631% share
−12.06% YoY
77.99% of Ch. 87
Balance
+7,956.91
Exports
33,749.89 ₹ Cr
1.5691% share
−1.36% YoY
33.52% of Ch. 87
Imports
25,792.98 ₹ Cr
0.8852% share
−10.92% YoY
75.52% of Ch. 87
Balance
+10,685.87
Exports
46,703.73 ₹ Cr
1.4882% share
+38.38% YoY
31.70% of Ch. 87
Imports
36,017.86 ₹ Cr
0.7880% share
+39.64% YoY
76.18% of Ch. 87
Balance
+9,042.93
Exports
54,184.00 ₹ Cr
1.4965% share
+16.02% YoY
31.78% of Ch. 87
Imports
45,141.07 ₹ Cr
0.7851% share
+25.33% YoY
77.99% of Ch. 87
Balance
+10,791.93
Exports
59,630.79 ₹ Cr
1.6481% share
+10.05% YoY
34.48% of Ch. 87
Imports
48,838.86 ₹ Cr
0.8697% share
+8.19% YoY
77.53% of Ch. 87
Balance
+9,805.54
Exports
63,496.30 ₹ Cr
1.7145% share
+6.48% YoY
33.14% of Ch. 87
Imports
53,690.76 ₹ Cr
0.8805% share
+9.93% YoY
76.85% of Ch. 87
CAGR · 7-Year
Exports
9.69% /yr
Imports
8.49% /yr
reference, FY 2024-25
Export
₹1,91,608.67 Cr
Import
₹69,864.41 Cr
Trade Balance
+1,21,744.26
India's exports under HSN Sub-Chapter 8708 have grown at a compound annual rate of 9.69% over 7 fiscal years, rising from ₹36,459.31 Crore in FY 2018-19 to ₹63,496.30 Crore in FY 2024-25.
In FY 2024-25, HSN Sub-Chapter 8708 ranks #7 out of 1233 subchapters by total export value. Within Chapter 87, it ranks #1 of 16. By trade surplus, it ranks #27 of 1233.
The strongest single-year export movement for HSN Sub-Chapter 8708 was recorded in FY 2021-22, when exports surged by 38.38% over the prior year.
In FY 2024-25, India's exports of ₹63,496.30 Cr exceeded imports of ₹53,690.76 Cr, resulting in a trade surplus of ₹9,805.54 Crore — ranking #27 of 1233 by surplus magnitude.
India's imports under HSN Sub-Chapter 8708 have grown at 8.49% CAGR, reaching ₹53,690.76 Crore in FY 2024-25.
Among the 16 subchapters under Chapter 87, HSN Sub-Chapter 8708 ranks #1 by export value — accounting for 33.14% of the chapter's total exports in FY 2024-25. On the import side, it holds 76.85% share (rank #1).
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 8708 and GST compliance.
It includes Parts & Accessories For Motor Vehicles
Using a broad or incorrect HSN, ignoring material/form (e.g., raw vs processed), or mixing goods and services on one line. Always match wording to the HSN Notes and keep a classification working paper.
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.
Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Parts & Accessories For Motor Vehicles are forward charge. Check the current notifications for any special cases before deciding.
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.
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.