--- title: "HSN Code for Semi-Finished Alloy Steel Products | HSN 72071120 GST Rate" description: "Find HSN and GST Rates for 72071120 related to Semi-Finished Alloy Steel Products with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-72071120/" --- # HSN Code 72071120: Semi-Finished Alloy Steel Products - [Section 15: Guide to HSN Section 15](https://busy.in/hsn/section-15/) - [Chapter 72: Iron & Steel](https://busy.in/hsn/chapter-72/) - [Sub-chapter 7207: Semi-finished Steel](https://busy.in/hsn/sub-chapter-7207/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Forging quality | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 72071120 ? It includes Stainless Steel Wire Rods ### How should mixed supplies be billed when Semi-Finished Alloy Steel Products is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Semi-Finished Alloy Steel Products; Nil for exempt items if applicable). ### Do e‑way bill and e‑invoice apply for Semi-Finished Alloy Steel Products? 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. ### How much GST applies to Semi-Finished Alloy Steel Products? Under HSN 72071120, Semi-Finished Alloy Steel Products attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Any common misclassification issue with Semi-Finished Alloy Steel Products? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### Can we claim ITC on inputs used to trade Semi-Finished Alloy Steel Products? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ## India's trade performance: HSN Code 72071120 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹2 Cr (−40.71% YoY) — 0.0000% of India's total exports - Imports: ₹8 Cr — 0.0001% of India's total imports - Trade balance: −₹6 Cr (Deficit); surplus rank #8719 of 12657 HSN codes - Share of Sub-Chapter 7207: 0.05% of its exports; import side 0.69% - Rank within Sub-Chapter 7207: #8 of 15 by export value; import-side #6 ### Key metrics - Export CAGR: -20.92% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #7763 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +2,588.89% in FY 2021-22 - Contribution to Sub-Ch. 7207: 0.05% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 72071120 7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB. | FY | Exports (₹ Cr) | Exp share | Exp YoY | Exp % of Sub-Ch. 7207 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 7207 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 6.79 | 0.0003% | — | 0.09% | 1.06 | 0.0000% | — | 0.08% | +5.73 | #5466 | | FY 2019-20 | 3.57 | 0.0002% | −47.42% | 0.04% | 4.04 | 0.0001% | +281.13% | 1.05% | −0.47 | #6240 | | FY 2020-21 | < ₹1 Crore | 0.0000% | −92.44% | 0.00% | 2.98 | 0.0001% | −26.24% | 0.72% | −2.71 | #8674 | | FY 2021-22 | 7.26 | 0.0002% | +2,588.89% | 0.03% | < ₹1 Crore | 0.0000% | −96.64% | 0.10% | +7.16 | #5895 | | FY 2022-23 | < ₹1 Crore | 0.0000% | −93.25% | 0.01% | Nil | 0.0000% | −100.00% | 0.00% | +0.49 | #8693 | | FY 2023-24 | 2.80 | 0.0001% | +471.43% | 0.07% | Nil | 0.0000% | — | 0.00% | +2.80 | #7221 | | FY 2024-25 | 1.66 | 0.0000% | −40.71% | 0.05% | 7.66 | 0.0001% | — | 0.69% | −6.00 | #7763 | - CAGR (7-year): exports -20.92%/yr, imports 39.04%/yr (consistently Deficit) ## Key trade insights: HSN Code 72071120 export-import analysis ### Export decline: -20.92% CAGR over 7 years India's exports under HSN Code 72071120 have declined at a compound annual rate of -20.92% over 7 fiscal years, falling from ₹6.79 Crore in FY 2018-19 to ₹1.66 Crore in FY 2024-25. ### HSN Code 72071120 ranked #7763 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 72071120 ranks #7763 out of 12657 HSN codes by total export value. Within Sub-Chapter 7207, it ranks #8 of 15. By trade surplus, it ranks #8719 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 72071120 exports The strongest single-year export movement for HSN Code 72071120 was recorded in FY 2021-22, when exports surged by 2,588.89% over the prior year. ### India records a trade deficit of ₹6.00 Crore in HSN Code 72071120 goods In FY 2024-25, India's imports of ₹7.66 Cr exceeded exports of ₹1.66 Cr, resulting in a trade deficit of ₹6.00 Crore — ranking #8719 of 12657 by surplus magnitude. ### Import growth of 39.04% CAGR signals rising demand for Semi-Finished Alloy Steel Products India's imports under HSN Code 72071120 have grown at 39.04% CAGR, reaching ₹7.66 Crore in FY 2024-25. ### HSN Code 72071120 contributes 0.05% of Sub-Chapter 7207 exports — ranked #8 Among the 15 HSN codes under Sub-Chapter 7207, HSN Code 72071120 ranks #8 by export value — accounting for 0.05% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.69% share (rank #6). ## Related HSN Codes in Sub-Chapter 7207 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 72071290: Other Wire Rods](https://busy.in/hsn/hsn-72071290/) | ₹2,142 Cr | | #2 | [HSN Code 72071920: Bars and Rods of Alloy Hot-Rolled Steel](https://busy.in/hsn/hsn-72071920/) | ₹882 Cr | | #3 | [HSN Code 72071190: Other Semi-Finished Steel Products](https://busy.in/hsn/hsn-72071190/) | ₹53 Cr | | #4 | [HSN Code 72071990: Other Hot-Rolled Bars and Rods](https://busy.in/hsn/hsn-72071990/) | ₹48 Cr | | #5 | [HSN Code 72072090: Other Cold-Rolled Bars and Rods](https://busy.in/hsn/hsn-72072090/) | ₹16 Cr | | #6 | [HSN Code 72071910: Bars and Rods of Non-Alloy Hot-Rolled Iron](https://busy.in/hsn/hsn-72071910/) | ₹5 Cr | | #7 | [HSN Code 72071110: Semi-Finished Products of Iron or Non-Alloy Steel](https://busy.in/hsn/hsn-72071110/) | ₹2 Cr | | #8 | HSN Code 72071120: Semi-Finished Alloy Steel Products (this hsn code) | ₹2 Cr | | #9 | [HSN Code 72072010: Bars and Rods of Non-Alloy Cold-Rolled Iron](https://busy.in/hsn/hsn-72072010/) | ₹1 Cr | | #10 | [HSN Code 72072030: Bars and Rods of Stainless Cold-Rolled Steel](https://busy.in/hsn/hsn-72072030/) | < ₹1 Crore |