Under the GST regime, HSN Code 72299051 classifies Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round within Chapter 72 – Iron And Steel. This code is essential for businesses to correctly calculate and remit taxes on Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round. 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 72299051
For Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round classified under HSN Code 72299051, 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 72299051?
Manufacturers, wholesalers, retailers, and exporters dealing in Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round are required to mention HSN 72299051 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
Commencing trade in Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round? Secure GST registration to handle taxes on HSN 72299051 classified goods. Businesses with international operations in Iron And Steel need an Import Export Code. Exporters require AD Code registration for foreign currency receipts. Start with company registration to formalize your business structure.
Why Correct Classification Matters
Correct HSN Code 72299051 application for Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round 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)
How many digits of HSN Code 72299051 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 72299051 for accurate classification of Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round.
Can I claim input tax credit on Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round purchases?
Yes, registered businesses can claim input tax credit on Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round purchases made under HSN 72299051. 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 72299051?
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round 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 Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round domestically?
No, Import Export Code is only required if you plan to import or export Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Half Round internationally. For domestic trade within Iron And Steel, GST registration is sufficient.
