HSN Code 72042920: High Speed Steel Alloy 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 or export of High Speed Steel Alloy Waste & Scrap.
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Description of Goods for HSN Code 72042920
HSN Code 72042920 relates to the following description.
What does HSN Code 72042920 not include?
High Speed Steel Alloy Waste & Scrap does not include products with the following descriptions.
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 : Other
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 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 : Other
Remelting scrap ingots
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 : Other
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 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 : Other
Remelting scrap ingots
India’s Trade Performance — HSN Code 72042920 in FY 2024-25
India’s Exports
FY 2024-25Nil
0.0000% of India’s total exports
India’s Imports
FY 2024-25₹62 Cr
0.0010% of India’s total imports
Trade Balance
FY 2024-25−₹62 Cr
Surplus rank #10407 of 12657 HSN codes
% of Sub-Chapter 7204
FY 2024-250.00%
Share of Sub-Chapter 7204’s total exports in FY 2024-25
Import side: 0.14% of Sub-Chapter 7204’s imports
At a glance
+3,100.00%
Peak Growth Year
FY 2021-22 · strongest single-year move
0.00%
Contribution to Sub-Ch. 7204
Share of Sub-Chapter 7204 exports in FY 2024-25
India Export-Import Trade Statistics for 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.
Balance
−14.37
Exports
2.86 ₹ Cr
0.0001% share
— YoY
4.41% of Sub-Ch. 7204
Imports
17.23 ₹ Cr
0.0005% share
— YoY
0.07% of Sub-Ch. 7204
Balance
−19.18
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−85.66% YoY
0.60% of Sub-Ch. 7204
Imports
19.59 ₹ Cr
0.0006% share
+13.70% YoY
0.08% of Sub-Ch. 7204
Balance
−13.67
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−97.56% YoY
0.02% of Sub-Ch. 7204
Imports
13.68 ₹ Cr
0.0005% share
−30.17% YoY
0.06% of Sub-Ch. 7204
Balance
−11.94
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+3,100.00% YoY
0.34% of Sub-Ch. 7204
Imports
12.26 ₹ Cr
0.0003% share
−10.38% YoY
0.04% of Sub-Ch. 7204
Balance
−23.36
Exports
Nil ₹ Cr
0.0000% share
−100.00% YoY
0.00% of Sub-Ch. 7204
Imports
23.36 ₹ Cr
0.0004% share
+90.54% YoY
0.04% of Sub-Ch. 7204
Balance
−59.67
Exports
Nil ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 7204
Imports
59.67 ₹ Cr
0.0011% share
+155.44% YoY
0.11% of Sub-Ch. 7204
Balance
−61.58
Exports
Nil ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 7204
Imports
61.58 ₹ Cr
0.0010% share
+3.20% YoY
0.14% of Sub-Ch. 7204
CAGR · 7-Year
Exports
—
Imports
23.65% /yr
reference, FY 2024-25
Export
₹122.25 Cr
Import
₹43,317.53 Cr
Trade Balance
−43,195.28
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.
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Frequently Asked Questions
Clear answers to common queries about HSN Code 72042920 and GST compliance.
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).