HSN Code 72061020: Ferroalloys: Silicomanganese

HSN Code 72061020 represents Ferroalloys: Silicomanganese under GST classification. This code helps businesses identify Ferroalloys: Silicomanganese correctly for billing, taxation, and trade. With HSN Code 72061020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Ferroalloys: Silicomanganese.

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Description of Goods for HSN Code 72061020

HSN Code 72061020 relates to the following description.

Description of Goods

Ingots : Of high carbon steel

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 72061020 not include?

Ferroalloys: Silicomanganese does not include products with the following descriptions.

India’s Trade Performance — HSN Code 72061020 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

−60.25% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

< ₹1 Crore

+56.00% vs FY 2023-24

0.0000% of India’s total imports

Trade Balance

FY 2024-25

< ₹1 Crore

Trade Surplus

Surplus rank #4745 of 12657 HSN codes

% of Sub-Chapter 7206

FY 2024-25

0.07%

Share of Sub-Chapter 7206’s total exports in FY 2024-25

Import side: 0.38% of Sub-Chapter 7206’s imports

Rank Within Sub-Chapter 7206

FY 2024-25

#2 of 9

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

Import-side rank: #5 of 9

At a glance

29.05%

Export CAGR

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

#8275

National Export Rank

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

+1,675.00%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.07%

Contribution to Sub-Ch. 7206

Share of Sub-Chapter 7206 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 72061020

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 #8774

Balance

−2.20

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

8.47% of Sub-Ch. 7206

Imports

2.41 ₹ Cr

0.0001% share

— YoY

2.14% of Sub-Ch. 7206

FY 2019-20 Exp. Rank #8687

Balance

−0.24

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+19.05% YoY

11.16% of Sub-Ch. 7206

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−79.67% YoY

0.41% of Sub-Ch. 7206

FY 2020-21 Exp. Rank #9622

Balance

+0.04

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−84.00% YoY

1.93% of Sub-Ch. 7206

Imports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Sub-Ch. 7206

FY 2021-22 Exp. Rank #8298

Balance

−1.21

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+1,675.00% YoY

0.09% of Sub-Ch. 7206

Imports

1.92 ₹ Cr

0.0000% share

— YoY

2.68% of Sub-Ch. 7206

FY 2022-23 Exp. Rank #7018

Balance

+2.91

Exports

2.96 ₹ Cr

0.0001% share

+316.90% YoY

0.21% of Sub-Ch. 7206

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−97.40% YoY

0.07% of Sub-Ch. 7206

FY 2023-24 Exp. Rank #7365

Balance

+2.19

Exports

2.44 ₹ Cr

0.0001% share

−17.57% YoY

0.16% of Sub-Ch. 7206

Imports

< ₹1 Crore ₹ Cr

0.0000% share

+400.00% YoY

0.36% of Sub-Ch. 7206

FY 2024-25 Exp. Rank #8275

Balance

+0.58

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−60.25% YoY

0.07% of Sub-Ch. 7206

Imports

< ₹1 Crore ₹ Cr

0.0000% share

+56.00% YoY

0.38% of Sub-Ch. 7206

CAGR · 7-Year

Exports

29.05% /yr

Imports

−26.18% /yr

Consistently Surplus
Sub-Chapter 7206 total

reference, FY 2024-25

Export

₹1,473.38 Cr

Import

₹103.26 Cr

Trade Balance

+1,370.12

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

Key Trade Insights: HSN Code 72061020 Export-Import Analysis

Consistent Export Growth: 29.05% CAGR Over 7 Years

India's exports under HSN Code 72061020 have grown at a compound annual rate of 29.05% over 7 fiscal years, rising from ₹0.21 Crore in FY 2018-19 to ₹0.97 Crore in FY 2024-25.

HSN Code 72061020 Ranked #8275 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 72061020 ranks #8275 out of 12657 HSN codes by total export value. Within Sub-Chapter 7206, it ranks #2 of 9. By trade surplus, it ranks #4745 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 72061020 Exports

The strongest single-year export movement for HSN Code 72061020 was recorded in FY 2021-22, when exports surged by 1,675.00% over the prior year.

India Maintains a Trade Surplus of ₹0.58 Crore in HSN Code 72061020 Goods

In FY 2024-25, India's exports of ₹0.97 Cr exceeded imports of ₹0.39 Cr, resulting in a trade surplus of ₹0.58 Crore — ranking #4745 of 12657 by surplus magnitude.

Import Growth of −26.18% CAGR Signals Stable Import Dependency for Ferroalloys: Silicomanganese

India's imports under HSN Code 72061020 have grown at −26.18% CAGR, reaching ₹0.39 Crore in FY 2024-25.

HSN Code 72061020 Contributes 0.07% of Sub-Chapter 7206 Exports — Ranked #2

Among the 9 HSN codes under Sub-Chapter 7206, HSN Code 72061020 ranks #2 by export value — accounting for 0.07% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.38% share (rank #5).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 72061020 and GST compliance.

What products are classified under HSN 72061020 ?

It includes Charge-Chrome Ferro-Boron

Can we claim ITC on inputs used to trade Ferroalloys: Silicomanganese?

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 Ferroalloys: Silicomanganese?

Under HSN 72061020, Ferroalloys: Silicomanganese attracts Varies when sold in taxable form. Describe the exact form on the invoice.

How should mixed supplies be billed when Ferroalloys: Silicomanganese is sold with other items?

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

Does packaging or labelling change the GST for Ferroalloys: Silicomanganese?

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.

Do e‑way bill and e‑invoice apply for Ferroalloys: Silicomanganese?

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.

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.