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HSN Code 72181000: Stainless Steel Ingots and Other Primary Forms

HSN Code 72181000 represents Stainless Steel Ingots and Other Primary Forms under GST classification. This code helps businesses identify Stainless Steel Ingots and Other Primary Forms correctly for billing, taxation, and trade. With HSN Code 72181000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Stainless Steel Ingots and Other Primary Forms.

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Description of Goods for HSN Code 72181000

HSN Code 72181000 relates to the following description.

Description of Goods

Ingots and other primary forms

Chapter

72 - Iron and steel

Sub Chapter

7218 - Stainless steel in ingots or other primary forms; semi-finished products of stainless steel

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 72181000 not include?

Stainless Steel Ingots and Other Primary Forms does not include products with the following descriptions.

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India’s Trade Performance — HSN Code 72181000 in FY 2025-26

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2025-26 Values in ₹ Crore

India’s Exports

FY 2025-26

₹20 Cr

+71.84% vs FY 2024-25

0.0005% of India’s total exports

India’s Imports

FY 2025-26

₹12 Cr

−37.49% vs FY 2024-25

0.0002% of India’s total imports

Trade Balance

FY 2025-26

₹9 Cr

Trade Surplus

Surplus rank #3513 of 12872 HSN codes

% of Sub-Chapter 7218

FY 2025-26

5.97%

Share of Sub-Chapter 7218’s total exports in FY 2025-26

Import side: 0.09% of Sub-Chapter 7218’s imports

Rank Within Sub-Chapter 7218

FY 2025-26

#2 of 4

Position by export value among HSN codes in Sub-Chapter 7218

Import-side rank: #4 of 4

At a glance

32.88%

Export CAGR

FY 2018-19 → FY 2025-26 · 8 fiscal years

#5028

National Export Rank

of 12872 HSN codes by export value, FY 2025-26

+230.30%

Peak Growth Year

FY 2021-22 · strongest single-year move

5.97%

Contribution to Sub-Ch. 7218

Share of Sub-Chapter 7218 exports in FY 2025-26

India Export-Import Trade Statistics for HSN Code 72181000

8-year export and import data, FY 2018-19 to FY 2025-26, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #6567

Balance

−65.62

Exports

2.77 ₹ Cr

0.0001% share

— YoY

1.69% of Sub-Ch. 7218

Imports

68.39 ₹ Cr

0.0019% share

— YoY

17.55% of Sub-Ch. 7218

FY 2019-20 Exp. Rank #5495

Balance

−58.36

Exports

6.70 ₹ Cr

0.0003% share

+141.88% YoY

5.70% of Sub-Ch. 7218

Imports

65.06 ₹ Cr

0.0019% share

−4.87% YoY

18.29% of Sub-Ch. 7218

FY 2020-21 Exp. Rank #6323

Balance

−19.69

Exports

3.63 ₹ Cr

0.0002% share

−45.82% YoY

2.30% of Sub-Ch. 7218

Imports

23.32 ₹ Cr

0.0008% share

−64.16% YoY

10.31% of Sub-Ch. 7218

FY 2021-22 Exp. Rank #5250

Balance

−24.09

Exports

11.99 ₹ Cr

0.0004% share

+230.30% YoY

4.17% of Sub-Ch. 7218

Imports

36.08 ₹ Cr

0.0008% share

+54.72% YoY

8.89% of Sub-Ch. 7218

FY 2022-23 Exp. Rank #4346

Balance

−2.64

Exports

26.12 ₹ Cr

0.0007% share

+117.85% YoY

5.77% of Sub-Ch. 7218

Imports

28.76 ₹ Cr

0.0005% share

−20.29% YoY

0.35% of Sub-Ch. 7218

FY 2023-24 Exp. Rank #4623

Balance

−14.82

Exports

22.18 ₹ Cr

0.0006% share

−15.08% YoY

9.03% of Sub-Ch. 7218

Imports

37.00 ₹ Cr

0.0007% share

+28.65% YoY

0.32% of Sub-Ch. 7218

FY 2024-25 Exp. Rank #5598

Balance

−6.96

Exports

11.79 ₹ Cr

0.0003% share

−46.84% YoY

3.61% of Sub-Ch. 7218

Imports

18.75 ₹ Cr

0.0003% share

−49.32% YoY

0.22% of Sub-Ch. 7218

FY 2025-26 Exp. Rank #5028

Balance

+8.54

Exports

20.26 ₹ Cr

0.0005% share

+71.84% YoY

5.97% of Sub-Ch. 7218

Imports

11.72 ₹ Cr

0.0002% share

−37.49% YoY

0.09% of Sub-Ch. 7218

CAGR · 8-Year

Exports

32.88% /yr

Imports

−22.27% /yr

Consistently Surplus
Sub-Chapter 7218 total

reference, FY 2025-26

Export

₹339.49 Cr

Import

₹12,369.63 Cr

Trade Balance

−12,030.14

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

Key Trade Insights: HSN Code 72181000 Export-Import Analysis

Consistent Export Growth: 32.88% CAGR Over 8 Years

India's exports under HSN Code 72181000 have grown at a compound annual rate of 32.88% over 8 fiscal years, rising from ₹2.77 Crore in FY 2018-19 to ₹20.26 Crore in FY 2025-26.

HSN Code 72181000 Ranked #5028 Among All 12872 HSN codes by Export Value

In FY 2025-26, HSN Code 72181000 ranks #5028 out of 12872 HSN codes by total export value. Within Sub-Chapter 7218, it ranks #2 of 4. By trade surplus, it ranks #3513 of 12872.

FY 2021-22 Was the Strongest Growth Year for HSN Code 72181000 Exports

The strongest single-year export movement for HSN Code 72181000 was recorded in FY 2021-22, when exports surged by 230.30% over the prior year.

India Maintains a Trade Surplus of ₹8.54 Crore in HSN Code 72181000 Goods

In FY 2025-26, India's exports of ₹20.26 Cr exceeded imports of ₹11.72 Cr, resulting in a trade surplus of ₹8.54 Crore — ranking #3513 of 12872 by surplus magnitude.

Import Growth of −22.27% CAGR Signals Stable Import Dependency for Stainless Steel Ingots and Other Primary Forms

India's imports under HSN Code 72181000 have grown at −22.27% CAGR, reaching ₹11.72 Crore in FY 2025-26.

HSN Code 72181000 Contributes 5.97% of Sub-Chapter 7218 Exports — Ranked #2

Among the 4 HSN codes under Sub-Chapter 7218, HSN Code 72181000 ranks #2 by export value — accounting for 5.97% of the sub-chapter's total exports in FY 2025-26. On the import side, it holds 0.09% share (rank #4).

Frequently Asked Questions

Clear answers to common queries about HSN Code 72181000 and GST compliance.

What products are classified under HSN 72181000 ?

It includes Stainless steel semi-finished products | Other

Do e‑way bill and e‑invoice apply for Stainless Steel Ingots and Other Primary Forms?

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 should mixed supplies be billed when Stainless Steel Ingots and Other Primary Forms is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Stainless Steel Ingots and Other Primary Forms; Nil for exempt items if applicable).

How much GST applies to Stainless Steel Ingots and Other Primary Forms?

Under HSN 72181000, Stainless Steel Ingots and Other Primary Forms attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Any common misclassification issue with Stainless Steel Ingots and Other Primary Forms?

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 Stainless Steel Ingots and Other Primary Forms?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

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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.