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HSN Code 72061010: Iron Ingots

HSN Code 72061010 represents Iron Ingots under GST classification. This code helps businesses identify Iron Ingots correctly for billing, taxation, and trade. With HSN Code 72061010, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Iron Ingots.

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Description of Goods for HSN Code 72061010

HSN Code 72061010 relates to the following description.

Description of Goods

Ingots : Of iron

Chapter

72 - Iron and steel

Sub Chapter

7206 - Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading 7203)

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 72061010 not include?

Iron Ingots does not include products with the following descriptions.

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India’s Trade Performance — HSN Code 72061010 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 Cr

+51.65% vs FY 2024-25

0.0000% of India’s total exports

India’s Imports

FY 2025-26

< ₹1 Crore

−99.52% vs FY 2024-25

0.0000% of India’s total imports

Trade Balance

FY 2025-26

₹1 Cr

Trade Surplus

Surplus rank #4466 of 12872 HSN codes

% of Sub-Chapter 7206

FY 2025-26

0.09%

Share of Sub-Chapter 7206’s total exports in FY 2025-26

Import side: 0.02% of Sub-Chapter 7206’s imports

Rank Within Sub-Chapter 7206

FY 2025-26

#3 of 9

Position by export value among HSN codes in Sub-Chapter 7206

Import-side rank: #8 of 9

At a glance

4.41%

Export CAGR

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

#8112

National Export Rank

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

+1,950.00%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.09%

Contribution to Sub-Ch. 7206

Share of Sub-Chapter 7206 exports in FY 2025-26

India Export-Import Trade Statistics for HSN Code 72061010

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 #7607

Balance

−19.70

Exports

1.02 ₹ Cr

0.0000% share

— YoY

41.13% of Sub-Ch. 7206

Imports

20.72 ₹ Cr

0.0006% share

— YoY

18.37% of Sub-Ch. 7206

FY 2019-20 Exp. Rank #8491

Balance

−7.87

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−66.67% YoY

15.18% of Sub-Ch. 7206

Imports

8.21 ₹ Cr

0.0002% share

−60.38% YoY

6.86% of Sub-Ch. 7206

FY 2020-21 Exp. Rank #9338

Balance

−8.71

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−76.47% YoY

3.86% of Sub-Ch. 7206

Imports

8.79 ₹ Cr

0.0003% share

+7.06% YoY

10.20% of Sub-Ch. 7206

FY 2021-22 Exp. Rank #7532

Balance

−9.42

Exports

1.64 ₹ Cr

0.0001% share

+1,950.00% YoY

0.21% of Sub-Ch. 7206

Imports

11.06 ₹ Cr

0.0002% share

+25.82% YoY

15.43% of Sub-Ch. 7206

FY 2022-23 Exp. Rank #7125

Balance

−8.59

Exports

2.66 ₹ Cr

0.0001% share

+62.20% YoY

0.19% of Sub-Ch. 7206

Imports

11.25 ₹ Cr

0.0002% share

+1.72% YoY

16.46% of Sub-Ch. 7206

FY 2023-24 Exp. Rank #8120

Balance

−11.23

Exports

1.15 ₹ Cr

0.0000% share

−56.77% YoY

0.08% of Sub-Ch. 7206

Imports

12.38 ₹ Cr

0.0002% share

+10.04% YoY

17.89% of Sub-Ch. 7206

FY 2024-25 Exp. Rank #8335

Balance

−5.36

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−20.87% YoY

0.06% of Sub-Ch. 7206

Imports

6.27 ₹ Cr

0.0001% share

−49.35% YoY

6.07% of Sub-Ch. 7206

FY 2025-26 Exp. Rank #8112

Balance

+1.35

Exports

1.38 ₹ Cr

0.0000% share

+51.65% YoY

0.09% of Sub-Ch. 7206

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−99.52% YoY

0.02% of Sub-Ch. 7206

CAGR · 8-Year

Exports

4.41% /yr

Imports

−60.70% /yr

Consistently Surplus
Sub-Chapter 7206 total

reference, FY 2025-26

Export

₹1,556.18 Cr

Import

₹176.87 Cr

Trade Balance

+1,379.31

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

Key Trade Insights: HSN Code 72061010 Export-Import Analysis

Consistent Export Growth: 4.41% CAGR Over 8 Years

India's exports under HSN Code 72061010 have grown at a compound annual rate of 4.41% over 8 fiscal years, rising from ₹1.02 Crore in FY 2018-19 to ₹1.38 Crore in FY 2025-26.

HSN Code 72061010 Ranked #8112 Among All 12872 HSN codes by Export Value

In FY 2025-26, HSN Code 72061010 ranks #8112 out of 12872 HSN codes by total export value. Within Sub-Chapter 7206, it ranks #3 of 9. By trade surplus, it ranks #4466 of 12872.

FY 2021-22 Was the Strongest Growth Year for HSN Code 72061010 Exports

The strongest single-year export movement for HSN Code 72061010 was recorded in FY 2021-22, when exports surged by 1,950.00% over the prior year.

India Maintains a Trade Surplus of ₹1.35 Crore in HSN Code 72061010 Goods

In FY 2025-26, India's exports of ₹1.38 Cr exceeded imports of ₹0.03 Cr, resulting in a trade surplus of ₹1.35 Crore — ranking #4466 of 12872 by surplus magnitude.

Import Growth of −60.70% CAGR Signals Stable Import Dependency for Iron Ingots

India's imports under HSN Code 72061010 have grown at −60.70% CAGR, reaching ₹0.03 Crore in FY 2025-26.

HSN Code 72061010 Contributes 0.09% of Sub-Chapter 7206 Exports — Ranked #3

Among the 9 HSN codes under Sub-Chapter 7206, HSN Code 72061010 ranks #3 by export value — accounting for 0.09% of the sub-chapter's total exports in FY 2025-26. On the import side, it holds 0.02% share (rank #8).

Frequently Asked Questions

Clear answers to common queries about HSN Code 72061010 and GST compliance.

What products are classified under HSN 72061010 ?

It includes Ferro-Chromium Alloys

Can we claim ITC on inputs used to trade Iron Ingots?

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 Iron Ingots?

Under HSN 72061010, Iron Ingots attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Any common misclassification issue with Iron Ingots?

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

Does packaging or labelling change the GST for Iron Ingots?

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 Iron Ingots is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Iron Ingots; Nil for exempt items if applicable).

Do e‑way bill and e‑invoice apply for Iron Ingots?

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.

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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.