HSN Code 72143000: Other, Of Free Cutting Steel

HSN Code 72143000 represents Other, Of Free Cutting Steel under GST classification. This code helps businesses identify Other, Of Free Cutting Steel correctly for billing, taxation, and trade. With HSN Code 72143000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Other, Of Free Cutting Steel.

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Description of Goods for HSN Code 72143000

HSN Code 72143000 relates to the following description.

Description of Goods

Other, of free cutting steel

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 72143000 not include?

Other, Of Free Cutting Steel 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 72143000 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

₹5 Cr

−12.46% vs FY 2023-24

0.0001% of India’s total exports

India’s Imports

FY 2024-25

< ₹1 Crore

−53.23% vs FY 2023-24

0.0000% of India’s total imports

Trade Balance

FY 2024-25

₹5 Cr

Trade Surplus

Surplus rank #3709 of 12657 HSN codes

% of Sub-Chapter 7214

FY 2024-25

1.01%

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

Import side: 0.04% of Sub-Chapter 7214’s imports

Rank Within Sub-Chapter 7214

FY 2024-25

#5 of 9

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

Import-side rank: #6 of 9

At a glance

18.74%

Export CAGR

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

#6508

National Export Rank

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

+156.97%

Peak Growth Year

FY 2021-22 · strongest single-year move

1.01%

Contribution to Sub-Ch. 7214

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

India Export-Import Trade Statistics for 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 2018-19 Exp. Rank #6985

Balance

−4.72

Exports

1.93 ₹ Cr

0.0001% share

— YoY

0.18% of Sub-Ch. 7214

Imports

6.65 ₹ Cr

0.0002% share

— YoY

0.66% of Sub-Ch. 7214

FY 2019-20 Exp. Rank #6678

Balance

+1.52

Exports

2.53 ₹ Cr

0.0001% share

+31.09% YoY

0.21% of Sub-Ch. 7214

Imports

1.01 ₹ Cr

0.0000% share

−84.81% YoY

0.10% of Sub-Ch. 7214

FY 2020-21 Exp. Rank #6469

Balance

+2.44

Exports

3.23 ₹ Cr

0.0002% share

+27.67% YoY

0.17% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−21.78% YoY

0.16% of Sub-Ch. 7214

FY 2021-22 Exp. Rank #5723

Balance

+7.06

Exports

8.30 ₹ Cr

0.0003% share

+156.97% YoY

0.16% of Sub-Ch. 7214

Imports

1.24 ₹ Cr

0.0000% share

+56.96% YoY

0.80% of Sub-Ch. 7214

FY 2022-23 Exp. Rank #6110

Balance

+5.92

Exports

6.83 ₹ Cr

0.0002% share

−17.71% YoY

0.88% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−26.61% YoY

0.20% of Sub-Ch. 7214

FY 2023-24 Exp. Rank #6320

Balance

+5.56

Exports

6.18 ₹ Cr

0.0002% share

−9.52% YoY

1.05% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−31.87% YoY

0.09% of Sub-Ch. 7214

FY 2024-25 Exp. Rank #6508

Balance

+5.12

Exports

5.41 ₹ Cr

0.0001% share

−12.46% YoY

1.01% of Sub-Ch. 7214

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−53.23% YoY

0.04% of Sub-Ch. 7214

CAGR · 7-Year

Exports

18.74% /yr

Imports

−40.67% /yr

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 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).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 72143000 and GST compliance.

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.

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.