Consistent Export Growth: 11.38% CAGR Over 7 Years
India's exports under HSN Sub-Chapter 9031 have grown at a compound annual rate of 11.38% over 7 fiscal years, rising from ₹1,436.43 Crore in FY 2018-19 to ₹2,742.06 Crore in FY 2024-25.
HSN Sub Chapter 9031 represents Measuring or Checking Instruments under GST classification. This code helps businesses identify Measuring or Checking Instruments correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 9031, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Measuring or Checking Instruments.
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GST Rate for Measuring or Checking Instruments under HSN Code 9031. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.
Following tariff HSN codes fall under Measuring or Checking Instruments.
Tariff HSN
Description
Machines for balancing mechanical parts
Tariff HSN
Description
Test benches
Tariff HSN
Description
Measuring or checking instruments, appliances and machines, not specified or included elsewhere in this chapter; profile projectors profile projectors
Tariff HSN
Description
Other optical instruments and appliances : For inspecting semiconductor wafers, or devices or for inspecting photo-masks or reticles used in manufacturing semiconductor devices (including integrated circuits)
Tariff HSN
Description
Other optical instruments and appliances : Other
Tariff HSN
Description
Other instruments, appliances and machines
Tariff HSN
Description
Parts and accessories
India’s Exports
FY 2024-25₹2,742 Cr
0.0740% of India’s total exports
India’s Imports
FY 2024-25₹15,400 Cr
0.2525% of India’s total imports
Trade Balance
FY 2024-25−₹12,658 Cr
Surplus rank #1165 of 1233 subchapters
% of Chapter 90
FY 2024-256.13%
Share of Chapter 90’s total exports in FY 2024-25
Import side: 13.15% of Chapter 90’s imports
Rank Within Chapter 90
FY 2024-25#8 of 32
Position by export value among subchapters in Chapter 90
Import-side rank: #3 of 32
At a glance
11.38%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#213
National Export Rank
of 1233 subchapters by export value, FY 2024-25
+31.37%
Peak Growth Year
FY 2022-23 · strongest single-year move
6.13%
Contribution to Ch. 90
Share of Chapter 90 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
−7,386.23
Exports
1,436.43 ₹ Cr
0.0626% share
— YoY
6.31% of Ch. 90
Imports
8,822.66 ₹ Cr
0.2457% share
— YoY
13.10% of Ch. 90
Balance
−7,490.05
Exports
1,349.49 ₹ Cr
0.0611% share
−6.05% YoY
5.65% of Ch. 90
Imports
8,839.54 ₹ Cr
0.2635% share
+0.19% YoY
13.49% of Ch. 90
Balance
−7,772.62
Exports
1,416.11 ₹ Cr
0.0658% share
+4.94% YoY
5.85% of Ch. 90
Imports
9,188.73 ₹ Cr
0.3153% share
+3.95% YoY
14.48% of Ch. 90
Balance
−7,005.26
Exports
1,782.75 ₹ Cr
0.0568% share
+25.89% YoY
6.01% of Ch. 90
Imports
8,788.01 ₹ Cr
0.1923% share
−4.36% YoY
10.42% of Ch. 90
Balance
−8,250.39
Exports
2,341.96 ₹ Cr
0.0647% share
+31.37% YoY
6.07% of Ch. 90
Imports
10,592.35 ₹ Cr
0.1842% share
+20.53% YoY
11.28% of Ch. 90
Balance
−10,651.82
Exports
2,440.73 ₹ Cr
0.0675% share
+4.22% YoY
5.91% of Ch. 90
Imports
13,092.55 ₹ Cr
0.2331% share
+23.60% YoY
12.24% of Ch. 90
Balance
−12,657.79
Exports
2,742.06 ₹ Cr
0.0740% share
+12.35% YoY
6.13% of Ch. 90
Imports
15,399.85 ₹ Cr
0.2525% share
+17.62% YoY
13.15% of Ch. 90
CAGR · 7-Year
Exports
11.38% /yr
Imports
9.73% /yr
reference, FY 2024-25
Export
₹44,741.39 Cr
Import
₹1,17,087.09 Cr
Trade Balance
−72,345.70
India's exports under HSN Sub-Chapter 9031 have grown at a compound annual rate of 11.38% over 7 fiscal years, rising from ₹1,436.43 Crore in FY 2018-19 to ₹2,742.06 Crore in FY 2024-25.
In FY 2024-25, HSN Sub-Chapter 9031 ranks #213 out of 1233 subchapters by total export value. Within Chapter 90, it ranks #8 of 32. By trade surplus, it ranks #1165 of 1233.
The strongest single-year export movement for HSN Sub-Chapter 9031 was recorded in FY 2022-23, when exports surged by 31.37% over the prior year.
In FY 2024-25, India's imports of ₹15,399.85 Cr exceeded exports of ₹2,742.06 Cr, resulting in a trade deficit of ₹12,657.79 Crore — ranking #1165 of 1233 by surplus magnitude.
India's imports under HSN Sub-Chapter 9031 have grown at 9.73% CAGR, reaching ₹15,399.85 Crore in FY 2024-25.
Among the 32 subchapters under Chapter 90, HSN Sub-Chapter 9031 ranks #8 by export value — accounting for 6.13% of the chapter's total exports in FY 2024-25. On the import side, it holds 13.15% share (rank #3).
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 9031 and GST compliance.
It includes Measuring or Checking Instruments
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.
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.
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.
Use a delivery challan for sending Measuring or Checking Instruments to the job worker. Declare movement in your records and reconcile when the goods return. If the job worker raises a service invoice, classify it under SAC; your goods remain under the original HSN.
Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Measuring or Checking Instruments are forward charge. Check the current notifications for any special cases before deciding.