Chapter 72 of the GST framework covers Iron And Steel, and HSN Code 72299034 specifically identifies Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire. 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 72299034
Goods classified as Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire under HSN 72299034 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 72299034?
Manufacturers, wholesalers, retailers, and exporters dealing in Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire are required to mention HSN 72299034 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
Looking to deal in Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire? GST registration is your first compliance requirement for HSN 72299034 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 72299034 application for Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire ensures smooth input credit utilization and assessment processes. Track 9.00%, 9.00%, and 18.00% 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 72299034 for accurate classification of Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire.
Yes, registered businesses can claim input tax credit on Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire purchases made under HSN 72299034. Ensure your supplier mentions correct HSN code and GST rates (9.00%, 9.00%) on the invoice.
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire is sold within the same state. IGST at 18.00% 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 Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Hardened And Tempered Wire internationally. For domestic trade within Iron And Steel, GST registration is sufficient.