Under the GST regime, HSN Code 72299052 classifies Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular 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 : Flat And Rectangular. 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 72299052
Goods classified as Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular under HSN 72299052 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 72299052?
Traders, manufacturers, and importers of Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular are required to mention HSN Code 72299052 on all GST documents. This Iron And Steel classification under Chapter 72 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Looking to deal in Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular? GST registration is your first compliance requirement for HSN 72299052 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
Accurate HSN Code 72299052 usage for Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular simplifies reconciliation and protects against penalties. Keep current with 9.00%, 9.00%, and 18.00% updates for Chapter 72 – Iron And Steel to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 72299052 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 72299052 for accurate classification of Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular.
Can I claim input tax credit on Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular purchases?
Yes, registered businesses can claim input tax credit on Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : Flat And Rectangular purchases made under HSN 72299052. 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 72299052?
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 : Flat And Rectangular 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 : Flat And Rectangular 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 : Flat And Rectangular internationally. For domestic trade within Iron And Steel, GST registration is sufficient.
