HSN Code 72043000: Waste and Scrap of Tinned Iron or Steel

HSN Code 72043000 represents Waste and Scrap of Tinned Iron or Steel under GST classification. This code helps businesses identify Waste and Scrap of Tinned Iron or Steel correctly for billing, taxation, and trade. With HSN Code 72043000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Waste and Scrap of Tinned Iron or Steel.

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Description of Goods for HSN Code 72043000

HSN Code 72043000 relates to the following description.

Description of Goods

Waste and scrap of tinned iron or 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 72043000 not include?

Waste and Scrap of Tinned Iron or Steel 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

India’s Trade Performance — HSN Code 72043000 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

< ₹1 Crore

+242.86% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

₹7 Cr

+131.75% vs FY 2023-24

0.0001% of India’s total imports

Trade Balance

FY 2024-25

−₹7 Cr

Trade Deficit

Surplus rank #8802 of 12657 HSN codes

% of Sub-Chapter 7204

FY 2024-25

0.39%

Share of Sub-Chapter 7204’s total exports in FY 2024-25

Import side: 0.02% of Sub-Chapter 7204’s imports

Rank Within Sub-Chapter 7204

FY 2024-25

#6 of 10

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

Import-side rank: #7 of 10

At a glance

8.76%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#8852

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+733.33%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.39%

Contribution to Sub-Ch. 7204

Share of Sub-Chapter 7204 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 72043000

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #8572

Balance

−14.46

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.45% of Sub-Ch. 7204

Imports

14.75 ₹ Cr

0.0004% share

— YoY

0.06% of Sub-Ch. 7204

FY 2019-20 Exp. Rank #8585

Balance

−43.09

Exports

< ₹1 Crore ₹ Cr

0.0000% share

0.00% YoY

0.42% of Sub-Ch. 7204

Imports

43.38 ₹ Cr

0.0013% share

+194.10% YoY

0.18% of Sub-Ch. 7204

FY 2020-21 Exp. Rank #9719

Balance

−92.81

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−89.66% YoY

0.05% of Sub-Ch. 7204

Imports

92.84 ₹ Cr

0.0032% share

+114.02% YoY

0.44% of Sub-Ch. 7204

FY 2021-22 Exp. Rank #9054

Balance

−14.82

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+733.33% YoY

0.27% of Sub-Ch. 7204

Imports

15.07 ₹ Cr

0.0003% share

−83.77% YoY

0.05% of Sub-Ch. 7204

FY 2022-23 Exp. Rank #10045

Balance

−1.86

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−88.00% YoY

0.02% of Sub-Ch. 7204

Imports

1.89 ₹ Cr

0.0000% share

−87.46% YoY

0.00% of Sub-Ch. 7204

FY 2023-24 Exp. Rank #9628

Balance

−3.01

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+366.67% YoY

0.13% of Sub-Ch. 7204

Imports

3.15 ₹ Cr

0.0001% share

+66.67% YoY

0.01% of Sub-Ch. 7204

FY 2024-25 Exp. Rank #8852

Balance

−6.82

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+242.86% YoY

0.39% of Sub-Ch. 7204

Imports

7.30 ₹ Cr

0.0001% share

+131.75% YoY

0.02% of Sub-Ch. 7204

CAGR · 7-Year

Exports

8.76% /yr

Imports

−11.06% /yr

Consistently Deficit
Sub-Chapter 7204 total

reference, FY 2024-25

Export

₹122.25 Cr

Import

₹43,317.53 Cr

Trade Balance

−43,195.28

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

Key Trade Insights: HSN Code 72043000 Export-Import Analysis

Consistent Export Growth: 8.76% CAGR Over 7 Years

India's exports under HSN Code 72043000 have grown at a compound annual rate of 8.76% over 7 fiscal years, rising from ₹0.29 Crore in FY 2018-19 to ₹0.48 Crore in FY 2024-25.

HSN Code 72043000 Ranked #8852 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 72043000 ranks #8852 out of 12657 HSN codes by total export value. Within Sub-Chapter 7204, it ranks #6 of 10. By trade surplus, it ranks #8802 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 72043000 Exports

The strongest single-year export movement for HSN Code 72043000 was recorded in FY 2021-22, when exports surged by 733.33% over the prior year.

India Records a Trade Deficit of ₹6.82 Crore in HSN Code 72043000 Goods

In FY 2024-25, India's imports of ₹7.30 Cr exceeded exports of ₹0.48 Cr, resulting in a trade deficit of ₹6.82 Crore — ranking #8802 of 12657 by surplus magnitude.

Import Growth of −11.06% CAGR Signals Stable Import Dependency for Waste and Scrap of Tinned Iron or Steel

India's imports under HSN Code 72043000 have grown at −11.06% CAGR, reaching ₹7.30 Crore in FY 2024-25.

HSN Code 72043000 Contributes 0.39% of Sub-Chapter 7204 Exports — Ranked #6

Among the 10 HSN codes under Sub-Chapter 7204, HSN Code 72043000 ranks #6 by export value — accounting for 0.39% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.02% share (rank #7).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 72043000 and GST compliance.

What products are classified under HSN 72043000 ?

It includes Remelting Scrap Ingots

How should mixed supplies be billed when Waste and Scrap of Tinned Iron or Steel is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Waste and Scrap of Tinned Iron or Steel; Nil for exempt items if applicable).

Any common misclassification issue with Waste and Scrap of Tinned Iron or Steel?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

Do e‑way bill and e‑invoice apply for Waste and Scrap of Tinned Iron or Steel?

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 Waste and Scrap of Tinned Iron or Steel?

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.

Can we claim ITC on inputs used to trade Waste and Scrap of Tinned Iron or Steel?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

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.