Chapter 72 of the GST framework covers Iron And Steel, and HSN Code 72299070 specifically identifies Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped 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 : Crimped 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 72299070
Tax liability for Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire under HSN 72299070 varies by transaction geography. CGST at 9.00% combined with SGST/UTGST at 9.00% applies to local sales. Interstate movement attracts IGST at 18.00%. All billing for Chapter 72 – Iron And Steel products must use kg..
Who Should Use HSN Code 72299070?
Traders, manufacturers, and importers of Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire are required to mention HSN Code 72299070 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
Planning to trade in Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire? Complete GST registration to legally collect taxes on goods under HSN 72299070. Businesses importing or exporting Iron And Steel products require an Import Export Code. AD Code registration is essential for exporters to process international payments. Entrepreneurs should secure company registration as the foundational step.
Why Correct Classification Matters
Using HSN Code 72299070 accurately for Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire avoids compliance issues and facilitates credit claims. Monitor changes to 9.00%, 9.00%, and 18.00% rates for Chapter 72 – Iron And Steel to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
What is the unit of measurement for HSN 72299070?
The standard unit of measurement for Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire under HSN Code 72299070 is kg.. All invoices and GST returns must reflect quantities using this measurement standard.
Is HSN Code 72299070 mandatory for small businesses?
Yes, businesses dealing in Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire must use HSN 72299070 on invoices regardless of their size. The number of digits required may vary based on turnover thresholds set by GST rules.
What happens if I use wrong HSN code for Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire?
Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 72299070 for Iron And Steel goods before invoicing.
Do I need AD Code registration for exporting Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire?
Yes, AD Code registration is required for exporters dealing in Wire Of Other Alloy Steel - Other : Wire (Excluding Wire Type Lead), Spring, High Tensile, Hardened And Tempered Wires, Not Insulated : Crimped Wire under Iron And Steel. This registration links your bank account to process foreign currency payments from overseas buyers.
