--- title: "HSN Code for High Speed Steel Alloy Waste & Scrap | HSN 72042920 GST Rate" description: "Find HSN and GST Rates for 72042920 related to High Speed Steel Alloy Waste & Scrap with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-72042920/" --- # HSN Code 72042920: High Speed Steel Alloy Waste & Scrap - [Section 15: Guide to HSN Section 15](https://busy.in/hsn/section-15/) - [Chapter 72: Iron & Steel](https://busy.in/hsn/chapter-72/) - [Sub-chapter 7204: Ferrous scrap](https://busy.in/hsn/sub-chapter-7204/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Waste and scrap of alloy steel : Other : Of high speed steel | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 72042920 ? It includes Other Iron and Steel Waste & Scrap ### Can we claim ITC on inputs used to trade High Speed Steel Alloy 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. ### How much GST applies to High Speed Steel Alloy Waste & Scrap? Under HSN 72042920, High Speed Steel Alloy Waste & Scrap attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Do e‑way bill and e‑invoice apply for High Speed Steel Alloy Waste & Scrap? 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. ### Does packaging or labelling change the GST for High Speed Steel Alloy Waste & Scrap? 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. ### How should mixed supplies be billed when High Speed Steel Alloy Waste & Scrap is sold with other items? 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). ## India's trade performance: HSN Code 72042920 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: Nil — 0.0000% of India's total exports - Imports: ₹62 Cr (+3.20% YoY) — 0.0010% of India's total imports - Trade balance: −₹62 Cr (Deficit); surplus rank #10407 of 12657 HSN codes - Share of Sub-Chapter 7204: 0.00% of its exports; import side 0.14% ### Key metrics - Peak growth year: +3,100.00% in FY 2021-22 - Contribution to Sub-Ch. 7204: 0.00% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 72042920 7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB. | FY | Exports (₹ Cr) | Exp share | Exp YoY | Exp % of Sub-Ch. 7204 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 7204 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 2.86 | 0.0001% | — | 4.41% | 17.23 | 0.0005% | — | 0.07% | −14.37 | #6531 | | FY 2019-20 | < ₹1 Crore | 0.0000% | −85.66% | 0.60% | 19.59 | 0.0006% | +13.70% | 0.08% | −19.18 | #8353 | | FY 2020-21 | < ₹1 Crore | 0.0000% | −97.56% | 0.02% | 13.68 | 0.0005% | −30.17% | 0.06% | −13.67 | #9985 | | FY 2021-22 | < ₹1 Crore | 0.0000% | +3,100.00% | 0.34% | 12.26 | 0.0003% | −10.38% | 0.04% | −11.94 | #8897 | | FY 2022-23 | Nil | 0.0000% | −100.00% | 0.00% | 23.36 | 0.0004% | +90.54% | 0.04% | −23.36 | — | | FY 2023-24 | Nil | 0.0000% | — | 0.00% | 59.67 | 0.0011% | +155.44% | 0.11% | −59.67 | — | | FY 2024-25 | Nil | 0.0000% | — | 0.00% | 61.58 | 0.0010% | +3.20% | 0.14% | −61.58 | — | - CAGR (7-year): exports —/yr, imports 23.65%/yr (consistently Deficit) ## Key trade insights: HSN Code 72042920 export-import analysis ### Export snapshot for HSN Code 72042920 India exported ₹0.00 Crore worth of High Speed Steel Alloy Waste & Scrap in FY 2024-25. Multi-year trend data is being compiled for this hsn code. ### FY 2021-22 was the strongest growth year for HSN Code 72042920 exports The strongest single-year export movement for HSN Code 72042920 was recorded in FY 2021-22, when exports surged by 3,100.00% over the prior year. ### India records a trade deficit of ₹61.58 Crore in HSN Code 72042920 goods In FY 2024-25, India's imports of ₹61.58 Cr exceeded exports of ₹0.00 Cr, resulting in a trade deficit of ₹61.58 Crore — ranking #10407 of 12657 by surplus magnitude. ### Import growth of 23.65% CAGR signals rising demand for High Speed Steel Alloy Waste & Scrap India's imports under HSN Code 72042920 have grown at 23.65% CAGR, reaching ₹61.58 Crore in FY 2024-25. ## Related HSN Codes in Sub-Chapter 7204 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 72042190: Alloy steel waste and scrap](https://busy.in/hsn/hsn-72042190/) | ₹54 Cr | | #2 | [HSN Code 72044100: Other Iron and Steel Waste & Scrap](https://busy.in/hsn/hsn-72044100/) | ₹28 Cr | | #3 | [HSN Code 72041000: Waste and scrap of cast iron](https://busy.in/hsn/hsn-72041000/) | ₹19 Cr | | #4 | [HSN Code 72042990: Waste and scrap of alloy steel](https://busy.in/hsn/hsn-72042990/) | ₹11 Cr | | #5 | [HSN Code 72044900: Other waste and scrap](https://busy.in/hsn/hsn-72044900/) | ₹9 Cr | | #6 | [HSN Code 72043000: Waste and Scrap of Tinned Iron or Steel](https://busy.in/hsn/hsn-72043000/) | < ₹1 Crore | | #7 | [HSN Code 72042110: Stainless Steel Waste & Scrap (Cartridge Type)](https://busy.in/hsn/hsn-72042110/) | < ₹1 Crore | | #8 | [HSN Code 72045000: Remelting Scrap Ingots](https://busy.in/hsn/hsn-72045000/) | < ₹1 Crore | | — | [HSN Code 72042910: Other Alloy Steel Waste & Scrap (Cartridge Type)](https://busy.in/hsn/hsn-72042910/) | Nil | | — | HSN Code 72042920: High Speed Steel Alloy Waste & Scrap (this hsn code) | Nil |