72124000 is the designated HSN classification for Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics, categorized under Chapter 72 – Iron And Steel in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 0.09, SGST/UTGST at 0.09 for local transactions, and IGST at 0.18 for interstate supplies. Quantities are measured in kg. for billing purposes.
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 72124000
For Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics classified under HSN Code 72124000, tax computation follows GST principles. CGST at 0.09 plus SGST/UTGST at 0.09 covers intrastate sales. IGST at 0.18 applies to interstate transactions. kg. is the prescribed measurement for Iron And Steel under Chapter 72.
Who Should Use HSN Code 72124000?
All businesses supplying Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics are obligated to use HSN 72124000 on tax invoices. From producers to retailers within Iron And Steel, Chapter 72 classification ensures uniform tax treatment. This requirement applies regardless of turnover or business model.
Business Registration Requirements
Looking to deal in Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics? GST registration is your first compliance requirement for HSN 72124000 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
Correct HSN Code 72124000 application for Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics ensures smooth input credit utilization and assessment processes. Track 0.09, 0.09, and 0.18 rate changes for Chapter 72 – Iron And Steel through official notifications for continuous compliance.
Frequently Asked Questions (FAQs)
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 72124000 for accurate classification of Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics.
Yes, registered businesses can claim input tax credit on Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics purchases made under HSN 72124000. Ensure your supplier mentions correct HSN code and GST rates (0.09, 0.09) on the invoice.
CGST at 0.09 plus SGST/UTGST at 0.09 applies when Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics is sold within the same state. IGST at 0.18 is charged when goods move across state borders or are imported.
No, Import Export Code is only required if you plan to import or export Flat-Rolled Products Of Iron Or Non-Alloy Steel, Of A Width Of Less Than 600 Mm, Clad, Plated Or Coated - Painted, Varnished Or Coated With Plastics internationally. For domestic trade within Iron And Steel, GST registration is sufficient.