Under the GST regime, HSN Code 72042110 classifies Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes within Chapter 72 – Iron And Steel. This code is essential for businesses to correctly calculate and remit taxes on Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes. The applicable rates are CGST at 9.00%, SGST/UTGST at 9.00% for within-state sales, and IGST at 18.00% for interstate supplies. Goods are quantified using kg..
HSN Codes under Chapter 72 – Iron And Steel
Below are related HSN codes from Chapter 72 – Iron And Steel for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Iron And Steel... | 72011000 | Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72012000 | Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72015010 | Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... | 9.00% | 9.00% | 18.00% |
| Iron And Steel... | 72015090 | Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72021100 | Ferro-Alloys - Ferro-Manganese : Containing By Wei... | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72021900 | Ferro-Alloys - Ferro-Manganese : Other | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72022100 | Ferro-Alloys - Ferro-Silicon: Containing By Weight... | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72022900 | Ferro-Alloys - Ferro-Silicon: Other | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72023000 | Ferro-Alloys - Ferro-Silico-Manganese | 0.09 | 0.09 | 0.18 |
| Iron And Steel... | 72024100 | Ferro-Alloys - Ferro-Chromium : Containing By Weig... | 0.09 | 0.09 | 0.18 |
GST Rates for HSN 72042110
For Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes classified under HSN Code 72042110, tax computation follows GST principles. CGST at 9.00% plus SGST/UTGST at 9.00% covers intrastate sales. IGST at 18.00% applies to interstate transactions. kg. is the prescribed measurement for Iron And Steel under Chapter 72.
Who Should Use HSN Code 72042110?
Traders, manufacturers, and importers of Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes are required to mention HSN Code 72042110 on all GST documents. This Iron And Steel classification under Chapter 72 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Entering the Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes market requires essential registrations. GST registration enables legal tax collection on HSN 72042110 goods. For cross-border trade in Iron And Steel items, secure an Import Export Code. Exporters additionally need AD Code registration for bank processing. Begin with company registration to establish your business entity.
Why Correct Classification Matters
Proper use of HSN Code 72042110 for Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes streamlines audit processes and supports valid credit claims. Stay updated on 9.00%, 9.00%, and 18.00% rates for Chapter 72 – Iron And Steel through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
Which chapter does HSN Code 72042110 belong to?
HSN Code 72042110 falls under Chapter 72 – Iron And Steel in the GST tariff schedule. This chapter covers various goods including Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes.
Is IGST applicable on Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes?
Yes, IGST at 18.00% is applicable when Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes is supplied interstate or imported. For local sales within a state, CGST at 9.00% and SGST/UTGST at 9.00% apply instead.
Can e-commerce sellers use HSN Code 72042110?
Yes, e-commerce sellers dealing in Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel - Waste And Scrap Of Alloy Steel : Of Stainless Steel : Empty Or Discharged Cartridges Of All Bores And Sizes must use HSN 72042110 on their invoices. This applies to all online platforms operating under Iron And Steel classification.
How do I start an import business for Iron And Steel goods?
To import goods under Iron And Steel, complete GST registration first, then obtain an Import Export Code from DGFT. Proper company registration provides the legal foundation for your import operations.
