--- title: "HSN Code for Other, Of Free Cutting Steel | HSN 72143000 GST Rate" description: "Find HSN and GST Rates for 72143000 related to Other, Of Free Cutting Steel with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-72143000/" --- # HSN Code 72143000: Other, Of Free Cutting Steel - [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 7214: Iron or steel rods and bars](https://busy.in/hsn/sub-chapter-7214/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Other, of free cutting steel | 9% | 9% | 18% | 0% | ## Frequently asked questions ### What products are classified under HSN 72143000 ? It includes Other | Other | Of Spring Steel Quality ### How should mixed supplies be billed when Other, Of Free Cutting Steel is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Other, Of Free Cutting Steel; Nil for exempt items if applicable). ### Does packaging or labelling change the GST for Other, Of Free Cutting Steel? 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 Other, Of Free Cutting Steel? 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 Other, Of Free Cutting Steel? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### Do e‑way bill and e‑invoice apply for Other, Of Free Cutting Steel? 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 Other, Of Free Cutting Steel? Under HSN 72143000, Other, Of Free Cutting Steel attracts Varies when sold in taxable form. Describe the exact form on the invoice. ## India's trade performance: HSN Code 72143000 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹5 Cr (−12.46% YoY) — 0.0001% of India's total exports - Imports: < ₹1 Crore (−53.23% YoY) — 0.0000% of India's total imports - Trade balance: ₹5 Cr (Surplus); surplus rank #3709 of 12657 HSN codes - Share of Sub-Chapter 7214: 1.01% of its exports; import side 0.04% - Rank within Sub-Chapter 7214: #5 of 9 by export value; import-side #6 ### Key metrics - Export CAGR: 18.74% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #6508 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +156.97% in FY 2021-22 - Contribution to Sub-Ch. 7214: 1.01% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 72143000 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. 7214 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 7214 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 1.93 | 0.0001% | — | 0.18% | 6.65 | 0.0002% | — | 0.66% | −4.72 | #6985 | | FY 2019-20 | 2.53 | 0.0001% | +31.09% | 0.21% | 1.01 | 0.0000% | −84.81% | 0.10% | +1.52 | #6678 | | FY 2020-21 | 3.23 | 0.0002% | +27.67% | 0.17% | < ₹1 Crore | 0.0000% | −21.78% | 0.16% | +2.44 | #6469 | | FY 2021-22 | 8.30 | 0.0003% | +156.97% | 0.16% | 1.24 | 0.0000% | +56.96% | 0.80% | +7.06 | #5723 | | FY 2022-23 | 6.83 | 0.0002% | −17.71% | 0.88% | < ₹1 Crore | 0.0000% | −26.61% | 0.20% | +5.92 | #6110 | | FY 2023-24 | 6.18 | 0.0002% | −9.52% | 1.05% | < ₹1 Crore | 0.0000% | −31.87% | 0.09% | +5.56 | #6320 | | FY 2024-25 | 5.41 | 0.0001% | −12.46% | 1.01% | < ₹1 Crore | 0.0000% | −53.23% | 0.04% | +5.12 | #6508 | - CAGR (7-year): exports 18.74%/yr, imports -40.67%/yr (consistently Surplus) ## Key trade insights: HSN Code 72143000 export-import analysis ### Consistent export growth: 18.74% CAGR over 7 years India's exports under HSN Code 72143000 have grown at a compound annual rate of 18.74% over 7 fiscal years, rising from ₹1.93 Crore in FY 2018-19 to ₹5.41 Crore in FY 2024-25. ### HSN Code 72143000 ranked #6508 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 72143000 ranks #6508 out of 12657 HSN codes by total export value. Within Sub-Chapter 7214, it ranks #5 of 9. By trade surplus, it ranks #3709 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 72143000 exports The strongest single-year export movement for HSN Code 72143000 was recorded in FY 2021-22, when exports surged by 156.97% over the prior year. ### India maintains a trade surplus of ₹5.12 Crore in HSN Code 72143000 goods In FY 2024-25, India's exports of ₹5.41 Cr exceeded imports of ₹0.29 Cr, resulting in a trade surplus of ₹5.12 Crore — ranking #3709 of 12657 by surplus magnitude. ### Import growth of -40.67% CAGR signals stable import dependency for Other, Of Free Cutting Steel India's imports under HSN Code 72143000 have grown at -40.67% CAGR, reaching ₹0.29 Crore in FY 2024-25. ### HSN Code 72143000 contributes 1.01% of Sub-Chapter 7214 exports — ranked #5 Among the 9 HSN codes under Sub-Chapter 7214, HSN Code 72143000 ranks #5 by export value — accounting for 1.01% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.04% share (rank #6). ## Related HSN Codes in Sub-Chapter 7214 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 72142090: Twisted/Rolled Steel with Indentations or Ribs](https://busy.in/hsn/hsn-72142090/) | ₹202 Cr | | #2 | [HSN Code 72149990: Other bars and rods of iron or non-alloy steel \| Other](https://busy.in/hsn/hsn-72149990/) | ₹130 Cr | | #3 | [HSN Code 72141090: Forged – Other](https://busy.in/hsn/hsn-72141090/) | ₹121 Cr | | #4 | [HSN Code 72149190: Rectangular cross-section: Other](https://busy.in/hsn/hsn-72149190/) | ₹68 Cr | | #5 | HSN Code 72143000: Other, Of Free Cutting Steel (this hsn code) | ₹5 Cr | | #6 | [HSN Code 72149110: Mild Steel Bright Bar (Rectangular)](https://busy.in/hsn/hsn-72149110/) | ₹5 Cr | | #7 | [HSN Code 72141010: Forged – Spring steel quality](https://busy.in/hsn/hsn-72141010/) | ₹1 Cr | | #8 | [HSN Code 72142010: Spring Steel Quality with Indentations or Ribs](https://busy.in/hsn/hsn-72142010/) | < ₹1 Crore | | #9 | [HSN Code 72149910: Other \| Other \| Of Spring Steel Quality](https://busy.in/hsn/hsn-72149910/) | < ₹1 Crore |