Description of Goods
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Forging quality
CGST
9%
SGST
9%
IGST
18%
CESS
0%
HSN Code 72071120: Semi-Finished Alloy Steel Products
HSN Code 72071120 represents Semi-Finished Alloy Steel Products under GST classification. This code helps businesses identify Semi-Finished Alloy Steel Products correctly for billing, taxation, and trade. With HSN Code 72071120, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Semi-Finished Alloy Steel Products.
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Description of Goods for HSN Code 72071120
HSN Code 72071120 relates to the following description.
Chapter
Chapter Name
Sub Chapter
Sub Chapter Name
Description
CGST
SGST
IGST
CESS
What does HSN Code 72071120 not include?
Semi-Finished Alloy Steel Products does not include products with the following descriptions.
HSN Code
Description
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Electrical quality
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Seamless steel tube quality
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Other
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Electrical quality
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Forging quality
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Seamless steel tube quality
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Other
Containing by weight less than 0.20% of carbon : Other : Forged blanks of non-alloy steel
Containing by weight less than 0.20% of carbon : Other : Mild steel billets
Containing by weight less than 0.20% of carbon : Other : Other
Containing by weight 0.20% or more of carbon : Forging quality
Containing by weight 0.20% or more of carbon : Spring steel quality
Containing by weight 0.20% or more of carbon : Seamless steel tube quality
Containing by weight 0.20% or more of carbon : Other
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Electrical quality
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Seamless steel tube quality
Containing by weight less than 0.20% of carbon : Of rectangular (including square) crosssection, the width measuring less than twice the thickness : Other
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Electrical quality
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Forging quality
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Seamless steel tube quality
Containing by weight less than 0.20% of carbon : Other, of rectangular (other than square) cross-section : Other
Containing by weight less than 0.20% of carbon : Other : Forged blanks of non-alloy steel
Containing by weight less than 0.20% of carbon : Other : Mild steel billets
Containing by weight less than 0.20% of carbon : Other : Other
Containing by weight 0.20% or more of carbon : Forging quality
Containing by weight 0.20% or more of carbon : Spring steel quality
Containing by weight 0.20% or more of carbon : Seamless steel tube quality
Containing by weight 0.20% or more of carbon : Other
India’s Trade Performance — HSN Code 72071120 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₹2 Cr
−40.71%
vs FY 2023-24
0.0000% of India’s total exports
India’s Imports
FY 2024-25₹8 Cr
First year of recorded data
0.0001% of India’s total imports
Trade Balance
FY 2024-25−₹6 Cr
Trade Deficit
Surplus rank #8719 of 12657 HSN codes
% of Sub-Chapter 7207
FY 2024-250.05%
Share of Sub-Chapter 7207’s total exports in FY 2024-25
Import side: 0.69% of Sub-Chapter 7207’s imports
Rank Within Sub-Chapter 7207
FY 2024-25#8 of 15
Position by export value among HSN codes in Sub-Chapter 7207
Import-side rank: #6 of 15
At a glance
−20.92%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#7763
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+2,588.89%
Peak Growth Year
FY 2021-22 · strongest single-year move
0.05%
Contribution to Sub-Ch. 7207
Share of Sub-Chapter 7207 exports in FY 2024-25
India Export-Import Trade Statistics for 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 2018-19
Exp. Rank #5466
Balance
+5.73
Exports
6.79 ₹ Cr
0.0003% share
— YoY
0.09% of Sub-Ch. 7207
Imports
1.06 ₹ Cr
0.0000% share
— YoY
0.08% of Sub-Ch. 7207
FY 2019-20
Exp. Rank #6240
Balance
−0.47
Exports
3.57 ₹ Cr
0.0002% share
−47.42% YoY
0.04% of Sub-Ch. 7207
Imports
4.04 ₹ Cr
0.0001% share
+281.13% YoY
1.05% of Sub-Ch. 7207
FY 2020-21
Exp. Rank #8674
Balance
−2.71
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−92.44% YoY
0.00% of Sub-Ch. 7207
Imports
2.98 ₹ Cr
0.0001% share
−26.24% YoY
0.72% of Sub-Ch. 7207
FY 2021-22
Exp. Rank #5895
Balance
+7.16
Exports
7.26 ₹ Cr
0.0002% share
+2,588.89% YoY
0.03% of Sub-Ch. 7207
Imports
< ₹1 Crore ₹ Cr
0.0000% share
−96.64% YoY
0.10% of Sub-Ch. 7207
FY 2022-23
Exp. Rank #8693
Balance
+0.49
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−93.25% YoY
0.01% of Sub-Ch. 7207
Imports
Nil ₹ Cr
0.0000% share
−100.00% YoY
0.00% of Sub-Ch. 7207
FY 2023-24
Exp. Rank #7221
Balance
+2.80
Exports
2.80 ₹ Cr
0.0001% share
+471.43% YoY
0.07% of Sub-Ch. 7207
Imports
Nil ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 7207
FY 2024-25
Exp. Rank #7763
Balance
−6.00
Exports
1.66 ₹ Cr
0.0000% share
−40.71% YoY
0.05% of Sub-Ch. 7207
Imports
7.66 ₹ Cr
0.0001% share
— YoY
0.69% of Sub-Ch. 7207
CAGR · 7-Year
Exports
−20.92% /yr
Imports
39.04% /yr
Consistently Deficit
Sub-Chapter 7207 total
reference, FY 2024-25
Export
₹3,153.62 Cr
Import
₹1,117.98 Cr
Trade Balance
+2,035.64
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
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).
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Frequently Asked Questions
Clear answers to common queries about HSN Code 72071120 and GST compliance.
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.
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.