Find GST Rates & HSN

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.

Free Live Demo Available Today

Don’t Let HSN Mistakes Affect Your GST Filing

Manage correct HSN codes and GST rates with BUSY.

Trusted by 6,00,000+ Users
4.5 Google Rating
40K+ Monthly Downloads
Free Mobile App
+91

* No credit card required

Description of Goods for HSN Code 72042920

HSN Code 72042920 relates to the following description.

Description of Goods

Waste and scrap of alloy steel : Other : Of high speed steel

Chapter

72 - Iron and steel

Sub Chapter

7204 - Ferrous waste and scrap; remelting scrap ingots of iron or steel

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 72042920 not include?

High Speed Steel Alloy Waste & Scrap does not include products with the following descriptions.

HSN Code 72042110

Waste and scrap of alloy steel : Of stainless steel : Empty or discharged cartridges of all bores and sizes

HSN Code 72042910

Waste and scrap of alloy steel : Other : Empty or discharged cartridges of all bores and sizes

HSN Code 72044100

Other waste and scrap : Turnings, shavings, chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles

Stop worrying about HSN & TAX compliance

BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.

Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
+91

* No credit card required

India’s Trade Performance — HSN Code 72042920 in FY 2025-26

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2025-26 Values in ₹ Crore

India’s Exports

FY 2025-26

< ₹1 Crore

First year of recorded data

0.0000% of India’s total exports

India’s Imports

FY 2025-26

₹82 Cr

+33.63% vs FY 2024-25

0.0012% of India’s total imports

Trade Balance

FY 2025-26

−₹82 Cr

Trade Deficit

Surplus rank #10690 of 12872 HSN codes

% of Sub-Chapter 7204

FY 2025-26

0.01%

Share of Sub-Chapter 7204’s total exports in FY 2025-26

Import side: 0.21% of Sub-Chapter 7204’s imports

Rank Within Sub-Chapter 7204

FY 2025-26

#7 of 10

Position by export value among HSN codes in Sub-Chapter 7204

Import-side rank: #6 of 10

At a glance

−50.79%

Export CAGR

FY 2018-19 → FY 2025-26 · 8 fiscal years

#10399

National Export Rank

of 12872 HSN codes by export value, FY 2025-26

+3,100.00%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.01%

Contribution to Sub-Ch. 7204

Share of Sub-Chapter 7204 exports in FY 2025-26

India Export-Import Trade Statistics for HSN Code 72042920

8-year export and import data, FY 2018-19 to FY 2025-26, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #6531

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

FY 2019-20 Exp. Rank #8353

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

FY 2020-21 Exp. Rank #9985

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

FY 2021-22 Exp. Rank #8897

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

FY 2022-23

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

FY 2023-24

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

FY 2024-25

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

FY 2025-26 Exp. Rank #10399

Balance

−82.27

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.01% of Sub-Ch. 7204

Imports

82.29 ₹ Cr

0.0012% share

+33.63% YoY

0.21% of Sub-Ch. 7204

CAGR · 8-Year

Exports

−50.79% /yr

Imports

25.03% /yr

Consistently Deficit
Sub-Chapter 7204 total

reference, FY 2025-26

Export

₹195.09 Cr

Import

₹40,129.28 Cr

Trade Balance

−39,934.19

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Code 72042920 Export-Import Analysis

Export Decline: −50.79% CAGR Over 8 Years

India's exports under HSN Code 72042920 have declined at a compound annual rate of −50.79% over 8 fiscal years, falling from ₹2.86 Crore in FY 2018-19 to ₹0.02 Crore in FY 2025-26.

HSN Code 72042920 Ranked #10399 Among All 12872 HSN codes by Export Value

In FY 2025-26, HSN Code 72042920 ranks #10399 out of 12872 HSN codes by total export value. Within Sub-Chapter 7204, it ranks #7 of 10. By trade surplus, it ranks #10690 of 12872.

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 ₹82.27 Crore in HSN Code 72042920 Goods

In FY 2025-26, India's imports of ₹82.29 Cr exceeded exports of ₹0.02 Cr, resulting in a trade deficit of ₹82.27 Crore — ranking #10690 of 12872 by surplus magnitude.

Import Growth of 25.03% CAGR Signals Rising Demand for High Speed Steel Alloy Waste & Scrap

India's imports under HSN Code 72042920 have grown at 25.03% CAGR, reaching ₹82.29 Crore in FY 2025-26.

HSN Code 72042920 Contributes 0.01% of Sub-Chapter 7204 Exports — Ranked #7

Among the 10 HSN codes under Sub-Chapter 7204, HSN Code 72042920 ranks #7 by export value — accounting for 0.01% of the sub-chapter's total exports in FY 2025-26. On the import side, it holds 0.21% share (rank #6).

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).

Found this useful? Add BUSY as a preferred source to see more of us on Google.

Important Disclaimer

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.