72299053 is the designated HSN classification for Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape, categorized under Chapter 72 – Iron And Steel in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 9.00%, SGST/UTGST at 9.00% for local transactions, and IGST at 18.00% 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 72299053
The taxation of Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape under HSN Code 72299053 depends on supply location. Intrastate transactions require CGST at 9.00% and SGST/UTGST at 9.00%. Interstate supplies are charged IGST at 18.00%. Invoices should consistently use kg. for Iron And Steel goods under Chapter 72.
Who Should Use HSN Code 72299053?
Traders, manufacturers, and importers of Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape are required to mention HSN Code 72299053 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
Starting a business involving Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape? GST registration is mandatory for collecting and remitting taxes on HSN 72299053 goods. Companies planning international trade within Iron And Steel must obtain an Import Export Code. Exporters need AD Code registration for receiving foreign payments. New entrepreneurs should complete company registration before pursuing trade-specific approvals.
Why Correct Classification Matters
Proper use of HSN Code 72299053 for Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape 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)
Where can I find the official GST rate for HSN 72299053?
Official GST rates for Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape under HSN 72299053 are published in government notifications and the CBIC website. Current rates are CGST 9.00%, SGST/UTGST 9.00%, and IGST 18.00%.
Do online marketplaces need to mention HSN 72299053?
Yes, online marketplaces and e-commerce operators selling Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape must mention HSN Code 72299053 on invoices. This Iron And Steel classification applies to all sales channels under Chapter 72.
What documents are needed for company registration to trade in Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape?
For company registration, you need identity proof, address proof, and registered office documents. Once registered, apply for GST registration to start trading in Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape under HSN 72299053.
How often do GST rates change for Iron And Steel products?
GST rates for Wire Of Other Alloy Steel - Other : Shaped And Profiled Wires Of Cross-Section : `L Shape and other Iron And Steel products under Chapter 72 may change through GST Council recommendations. Monitor official notifications to stay updated on 9.00%, 9.00%, and 18.00% revisions.
