HSN Code 72141010: Forged – Spring steel quality

HSN Code 72141010 represents Forged – Spring steel quality under GST classification. This code helps businesses identify Forged – Spring steel quality correctly for billing, taxation, and trade. With HSN Code 72141010, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Forged – Spring steel quality.

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Description of Goods for HSN Code 72141010

HSN Code 72141010 relates to the following description.

Description of Goods

Forged : Spring steel quality

Chapter

72 - Iron and steel

Sub Chapter

7214 - Other bars and rods of iron or non-alloy steel, not further worked than forged, hotrolled, hot-drawn or hot-extruded, but including those twisted after rolling

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 72141010 not include?

Forged – Spring steel quality does not include products with the following descriptions.

HSN Code 72142010

Containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling : Spring steel quality

HSN Code 72142090

Containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling : Other

HSN Code 72149110

Other : Of rectangular (other than square) cross-section : Mild steel bright bar

India’s Trade Performance — HSN Code 72141010 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 Cr

+77.14% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

Nil

−100.00% vs FY 2023-24

0.0000% of India’s total imports

Trade Balance

FY 2024-25

₹1 Cr

Trade Surplus

Surplus rank #4429 of 12657 HSN codes

% of Sub-Chapter 7214

FY 2024-25

0.23%

Share of Sub-Chapter 7214’s total exports in FY 2024-25

Import side: 0.00% of Sub-Chapter 7214’s imports

Rank Within Sub-Chapter 7214

FY 2024-25

#7 of 9

Position by export value among HSN codes in Sub-Chapter 7214

At a glance

10.80%

Export CAGR

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

#8050

National Export Rank

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

+447.92%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.23%

Contribution to Sub-Ch. 7214

Share of Sub-Chapter 7214 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 72141010

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 #7951

Balance

+0.26

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.06% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.04% of Sub-Ch. 7214

FY 2019-20 Exp. Rank #9016

Balance

−0.05

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−79.10% YoY

0.01% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−53.66% YoY

0.02% of Sub-Ch. 7214

FY 2020-21 Exp. Rank #8257

Balance

+0.47

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+242.86% YoY

0.02% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−94.74% YoY

0.00% of Sub-Ch. 7214

FY 2021-22 Exp. Rank #7035

Balance

+2.63

Exports

2.63 ₹ Cr

0.0001% share

+447.92% YoY

0.05% of Sub-Ch. 7214

Imports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Sub-Ch. 7214

FY 2022-23 Exp. Rank #7921

Balance

+1.19

Exports

1.22 ₹ Cr

0.0000% share

−53.61% YoY

0.16% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.01% of Sub-Ch. 7214

FY 2023-24 Exp. Rank #8541

Balance

+0.67

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−42.62% YoY

0.12% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

0.00% YoY

0.00% of Sub-Ch. 7214

FY 2024-25 Exp. Rank #8050

Balance

+1.24

Exports

1.24 ₹ Cr

0.0000% share

+77.14% YoY

0.23% of Sub-Ch. 7214

Imports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Sub-Ch. 7214

CAGR · 7-Year

Exports

10.80% /yr

Imports

—

Consistently Surplus
Sub-Chapter 7214 total

reference, FY 2024-25

Export

₹533.36 Cr

Import

₹826.79 Cr

Trade Balance

−293.43

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

Key Trade Insights: HSN Code 72141010 Export-Import Analysis

Consistent Export Growth: 10.80% CAGR Over 7 Years

India's exports under HSN Code 72141010 have grown at a compound annual rate of 10.80% over 7 fiscal years, rising from ₹0.67 Crore in FY 2018-19 to ₹1.24 Crore in FY 2024-25.

HSN Code 72141010 Ranked #8050 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 72141010 ranks #8050 out of 12657 HSN codes by total export value. Within Sub-Chapter 7214, it ranks #7 of 9. By trade surplus, it ranks #4429 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 72141010 Exports

The strongest single-year export movement for HSN Code 72141010 was recorded in FY 2021-22, when exports surged by 447.92% over the prior year.

India Maintains a Trade Surplus of ₹1.24 Crore in HSN Code 72141010 Goods

In FY 2024-25, India's exports of ₹1.24 Cr exceeded imports of ₹0.00 Cr, resulting in a trade surplus of ₹1.24 Crore — ranking #4429 of 12657 by surplus magnitude.

HSN Code 72141010 Contributes 0.23% of Sub-Chapter 7214 Exports — Ranked #7

Among the 9 HSN codes under Sub-Chapter 7214, HSN Code 72141010 ranks #7 by export value — accounting for 0.23% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.00% share.

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Frequently Asked Questions

Clear answers to common queries about HSN Code 72141010 and GST compliance.

What products are classified under HSN 72141010 ?

It includes Twisted/Rolled Steel with Indentations or Ribs

Does packaging or labelling change the GST for Forged – Spring steel quality?

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.

Any common misclassification issue with Forged – Spring steel quality?

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

How should mixed supplies be billed when Forged – Spring steel quality is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Forged – Spring steel quality; Nil for exempt items if applicable).

Can we claim ITC on inputs used to trade Forged – Spring steel quality?

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 Forged – Spring steel quality?

Under HSN 72141010, Forged – Spring steel quality attracts Varies when sold in taxable form. Describe the exact form on the invoice.

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.