HSN Code 72249030: Cobalt bearing steel
HSN Code 72249030 represents Cobalt bearing steel under GST classification. This code helps businesses identify Cobalt bearing steel correctly for billing, taxation, and trade. With HSN Code 72249030, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Cobalt bearing steel.
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Description of Goods for HSN Code 72249030
HSN Code 72249030 relates to the following description.
What does HSN Code 72249030 not include?
Cobalt bearing steel does not include products with the following descriptions.
Ingots and other primary forms
Other : Of tool steel quality
Other : Of die steel quality
Other : Forged blanks of alloy steel
Other : Other : Billets
Other : Other : Other
India’s Trade Performance — HSN Code 72249030 in FY 2024-25
India’s Exports
FY 2024-25< ₹1 Crore
0.0000% of India’s total exports
India’s Imports
FY 2024-25Nil
0.0000% of India’s total imports
Trade Balance
FY 2024-25< ₹1 Crore
Surplus rank #4610 of 12657 HSN codes
% of Sub-Chapter 7224
FY 2024-250.05%
Share of Sub-Chapter 7224’s total exports in FY 2024-25
Import side: 0.00% of Sub-Chapter 7224’s imports
Rank Within Sub-Chapter 7224
FY 2024-25#6 of 7
Position by export value among HSN codes in Sub-Chapter 7224
At a glance
46.47%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#8446
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+242.86%
Peak Growth Year
FY 2020-21 · strongest single-year move
0.05%
Contribution to Sub-Ch. 7224
Share of Sub-Chapter 7224 exports in FY 2024-25
India Export-Import Trade Statistics for HSN Code 72249030
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
+0.07
Exports
< ₹1 Crore ₹ Cr
0.0000% share
— YoY
0.03% of Sub-Ch. 7224
Imports
< ₹1 Crore ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 7224
Balance
+0.07
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−12.50% YoY
0.09% of Sub-Ch. 7224
Imports
Nil ₹ Cr
0.0000% share
−100.00% YoY
0.00% of Sub-Ch. 7224
Balance
+0.07
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+242.86% YoY
0.09% of Sub-Ch. 7224
Imports
< ₹1 Crore ₹ Cr
0.0000% share
— YoY
0.05% of Sub-Ch. 7224
Balance
+0.42
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+75.00% YoY
0.36% of Sub-Ch. 7224
Imports
Nil ₹ Cr
0.0000% share
−100.00% YoY
0.00% of Sub-Ch. 7224
Balance
+0.90
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+114.29% YoY
0.36% of Sub-Ch. 7224
Imports
Nil ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 7224
Balance
−13.35
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−12.22% YoY
0.29% of Sub-Ch. 7224
Imports
14.14 ₹ Cr
0.0003% share
— YoY
4.24% of Sub-Ch. 7224
Balance
+0.79
Exports
< ₹1 Crore ₹ Cr
0.0000% share
0.00% YoY
0.05% of Sub-Ch. 7224
Imports
Nil ₹ Cr
0.0000% share
−100.00% YoY
0.00% of Sub-Ch. 7224
CAGR · 7-Year
Exports
46.47% /yr
Imports
—
reference, FY 2024-25
Export
₹1,500.26 Cr
Import
₹245.74 Cr
Trade Balance
+1,254.52
Key Trade Insights: HSN Code 72249030 Export-Import Analysis
Consistent Export Growth: 46.47% CAGR Over 7 Years
India's exports under HSN Code 72249030 have grown at a compound annual rate of 46.47% over 7 fiscal years, rising from ₹0.08 Crore in FY 2018-19 to ₹0.79 Crore in FY 2024-25.
HSN Code 72249030 Ranked #8446 Among All 12657 HSN codes by Export Value
In FY 2024-25, HSN Code 72249030 ranks #8446 out of 12657 HSN codes by total export value. Within Sub-Chapter 7224, it ranks #6 of 7. By trade surplus, it ranks #4610 of 12657.
FY 2020-21 Was the Strongest Growth Year for HSN Code 72249030 Exports
The strongest single-year export movement for HSN Code 72249030 was recorded in FY 2020-21, when exports surged by 242.86% over the prior year.
India Maintains a Trade Surplus of ₹0.79 Crore in HSN Code 72249030 Goods
In FY 2024-25, India's exports of ₹0.79 Cr exceeded imports of ₹0.00 Cr, resulting in a trade surplus of ₹0.79 Crore — ranking #4610 of 12657 by surplus magnitude.
HSN Code 72249030 Contributes 0.05% of Sub-Chapter 7224 Exports — Ranked #6
Among the 7 HSN codes under Sub-Chapter 7224, HSN Code 72249030 ranks #6 by export value — accounting for 0.05% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.00% share.
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Frequently Asked Questions
Clear answers to common queries about HSN Code 72249030 and GST compliance.
What products are classified under HSN 72249030 ?
It includes Semi-finished products of other alloy steel | Other
How should mixed supplies be billed when Cobalt bearing steel is sold with other items?
Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Cobalt bearing steel; Nil for exempt items if applicable).
Do e‑way bill and e‑invoice apply for Cobalt bearing 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.
Any common misclassification issue with Cobalt bearing steel?
Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.
Does packaging or labelling change the GST for Cobalt bearing 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.
Can we claim ITC on inputs used to trade Cobalt bearing steel?
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 Cobalt bearing steel?
Under HSN 72249030, Cobalt bearing steel attracts Varies when sold in taxable form. Describe the exact form on the invoice.