What products are classified under HSN 72042920 ?
It includes Other Iron and Steel Waste & Scrap
HSN Code 72042920 represents High Speed Steel Alloy Waste & Scrap under GST classification. This code helps businesses identify High Speed Steel Alloy Waste & Scrap correctly for billing, taxation, and trade. With HSN Code 72042920, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of High Speed Steel Alloy Waste & Scrap.
HSN Code 72042920 relates to the following description:
| Chapter Number | Chapter Name | Sub Chapter Number | Sub Chapter Name | Description of Goods | CGST (%) |
SGST (%) |
IGST (%) |
CESS (%) |
|---|---|---|---|---|---|---|---|---|
| 72 | Iron and steel | 7204 | Ferrous waste and scrap; remelting scrap ingots of iron or steel | Waste and scrap of alloy steel : Other : Of high speed steel | 9% | 9% | 18% | 0% |
| 72 | Iron and steel | 7204 | Ferrous waste and scrap; remelting scrap ingots of iron or steel | Waste and scrap of alloy steel : Other : Of high speed steel | 9% | 9% | 18% | 0% |
High Speed Steel Alloy Waste & Scrap does not include products with the following descriptions:
| HSN Code | Description |
|---|---|
| Waste and scrap of cast iron | |
| Waste and scrap of cast iron | |
| Waste and scrap of alloy steel : Of stainless steel : Empty or discharged cartridges of all bores and sizes | |
| Waste and scrap of alloy steel : Of stainless steel : Empty or discharged cartridges of all bores and sizes | |
| Waste and scrap of alloy steel : Of stainless steel : Other | |
| Waste and scrap of alloy steel : Of stainless steel : Other | |
| Waste and scrap of alloy steel : Other : Empty or discharged cartridges of all bores and sizes | |
| Waste and scrap of alloy steel : Other : Empty or discharged cartridges of all bores and sizes | |
| Waste and scrap of alloy steel : Other : Other | |
| Waste and scrap of alloy steel : Other : Other | |
| Waste and scrap of tinned iron or steel | |
| Waste and scrap of tinned iron or steel | |
| Other waste and scrap : Turnings, shavings, chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles | |
| Other waste and scrap : Turnings, shavings, chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles | |
| Other waste and scrap : Other | |
| Other waste and scrap : Other | |
| Remelting scrap ingots | |
| Remelting scrap ingots |
Waste and scrap of cast iron
Waste and scrap of cast iron
Waste and scrap of alloy steel : Of stainless steel : Empty or discharged cartridges of all bores and sizes
Waste and scrap of alloy steel : Of stainless steel : Empty or discharged cartridges of all bores and sizes
Waste and scrap of alloy steel : Of stainless steel : Other
Waste and scrap of alloy steel : Of stainless steel : Other
Waste and scrap of alloy steel : Other : Empty or discharged cartridges of all bores and sizes
Waste and scrap of alloy steel : Other : Empty or discharged cartridges of all bores and sizes
Waste and scrap of alloy steel : Other : Other
Waste and scrap of alloy steel : Other : Other
Waste and scrap of tinned iron or steel
Waste and scrap of tinned iron or steel
Other waste and scrap : Turnings, shavings, chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles
Other waste and scrap : Turnings, shavings, chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles
Other waste and scrap : Other
Other waste and scrap : Other
Remelting scrap ingots
Remelting scrap ingots
It includes Other Iron and Steel Waste & Scrap
If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.
Under HSN 72042920, High Speed Steel Alloy Waste & Scrap attracts Varies when sold in taxable form. Describe the exact form on the invoice.
e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.
For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading.
Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for High Speed Steel Alloy Waste & Scrap; Nil for exempt items if applicable).
The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.