HSN Code 72123091 provides the tax classification for Galvannealed under Chapter 72 – Iron And Steel of the GST tariff. Businesses dealing in Galvannealed must use this code for proper invoicing and return filing. Applicable taxes include CGST at 9.00%, SGST/UTGST at 9.00%, and IGST at 18.00%. The recognized 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 72123091
Goods classified as Galvannealed under HSN 72123091 are taxed based on transaction type. Local sales attract CGST at 9.00% plus SGST/UTGST at 9.00%. For supplies crossing state boundaries, IGST at 18.00% applies. Documentation must reflect kg. as the measurement standard for Chapter 72 – Iron And Steel products.
Who Should Use HSN Code 72123091?
Any business engaged in supplying Galvannealed must apply HSN 72123091 on invoices. The Iron And Steel category under Chapter 72 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.
Business Registration Requirements
Looking to deal in Galvannealed? GST registration is your first compliance requirement for HSN 72123091 goods. International traders in Iron And Steel products must obtain an Import Export Code. AD Code registration facilitates export payment processing. Company registration should precede all other business approvals.
Why Correct Classification Matters
Proper use of HSN Code 72123091 for Galvannealed 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 72123091 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 72123091 for accurate classification of Galvannealed.
Can I claim input tax credit on Galvannealed purchases?
Yes, registered businesses can claim input tax credit on Galvannealed purchases made under HSN 72123091. 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 72123091?
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Galvannealed 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 Galvannealed domestically?
No, Import Export Code is only required if you plan to import or export Galvannealed internationally. For domestic trade within Iron And Steel, GST registration is sufficient.
