Chapter 72 of the GST framework covers Iron And Steel, and HSN Code 72071910 specifically identifies Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel. Tax rates applicable include CGST at 9.00%, SGST/UTGST at 9.00%, and IGST at 18.00% for interstate movements. The standard unit of measurement is 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 72071910
Tax liability for Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel under HSN 72071910 varies by transaction geography. CGST at 9.00% combined with SGST/UTGST at 9.00% applies to local sales. Interstate movement attracts IGST at 18.00%. All billing for Chapter 72 – Iron And Steel products must use kg..
Who Should Use HSN Code 72071910?
Manufacturers, wholesalers, retailers, and exporters dealing in Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel are required to mention HSN 72071910 on all tax documents. This classification under Iron And Steel applies to businesses of all sizes operating within Chapter 72. Proper usage ensures accurate return filing and audit compliance.
Business Registration Requirements
Starting a business involving Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel? GST registration is mandatory for collecting and remitting taxes on HSN 72071910 goods. Companies planning international trade within Iron And Steel must obtain an Import Export Code. Exporters need AD Code registration for receiving foreign payments. New entrepreneurs should complete company registration before pursuing trade-specific approvals.
Why Correct Classification Matters
Proper use of HSN Code 72071910 for Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel 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)
How many digits of HSN Code 72071910 should I mention on invoices?
The number of HSN digits depends on your annual turnover. Businesses with turnover above Rs 5 crore must mention 6 digits, while others may use 4 digits. Always use the complete HSN 72071910 for accurate classification of Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel.
Can I claim input tax credit on Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel purchases?
Yes, registered businesses can claim input tax credit on Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel purchases made under HSN 72071910. Ensure your supplier mentions correct HSN code and GST rates (9.00%, 9.00%) on the invoice.
What is the difference between CGST and IGST for HSN 72071910?
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel is sold within the same state. IGST at 18.00% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel domestically?
No, Import Export Code is only required if you plan to import or export Semi-Finished Products Of Iron Or Non-Alloy Steel - Containing By Weight Less Than 0.25% Of Carbon : Other :Forged Blanks Of Non-Alloy Steel internationally. For domestic trade within Iron And Steel, GST registration is sufficient.
