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HSN Code 72249040: Forged Alloy Steel Blanks

HSN Code 72249040 represents Forged Alloy Steel Blanks under GST classification. This code helps businesses identify Forged Alloy Steel Blanks correctly for billing, taxation, and trade. With HSN Code 72249040, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Forged Alloy Steel Blanks.

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Description of Goods for HSN Code 72249040

HSN Code 72249040 relates to the following description.

Description of Goods

Other : Forged blanks of alloy steel

Chapter

72 - Iron and steel

Sub Chapter

7224 - Other alloy steel in ingots or other primary forms; semi-finished products of other alloy steel

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 72249040 not include?

Forged Alloy Steel Blanks does not include products with the following descriptions.

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India’s Trade Performance — HSN Code 72249040 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

₹5 Cr

−38.84% vs FY 2024-25

0.0001% of India’s total exports

India’s Imports

FY 2025-26

₹24 Cr

+231.16% vs FY 2024-25

0.0004% of India’s total imports

Trade Balance

FY 2025-26

−₹19 Cr

Trade Deficit

Surplus rank #9594 of 12872 HSN codes

% of Sub-Chapter 7224

FY 2025-26

0.23%

Share of Sub-Chapter 7224’s total exports in FY 2025-26

Import side: 13.05% of Sub-Chapter 7224’s imports

Rank Within Sub-Chapter 7224

FY 2025-26

#6 of 7

Position by export value among HSN codes in Sub-Chapter 7224

Import-side rank: #4 of 7

At a glance

45.46%

Export CAGR

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

#6780

National Export Rank

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

+1,151.28%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.23%

Contribution to Sub-Ch. 7224

Share of Sub-Chapter 7224 exports in FY 2025-26

India Export-Import Trade Statistics for HSN Code 72249040

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 #8417

Balance

−6.80

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.15% of Sub-Ch. 7224

Imports

7.16 ₹ Cr

0.0002% share

— YoY

0.69% of Sub-Ch. 7224

FY 2019-20 Exp. Rank #7958

Balance

−5.59

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+88.89% YoY

0.85% of Sub-Ch. 7224

Imports

6.27 ₹ Cr

0.0002% share

−12.43% YoY

1.22% of Sub-Ch. 7224

FY 2020-21 Exp. Rank #7521

Balance

−5.22

Exports

1.17 ₹ Cr

0.0001% share

+72.06% YoY

0.44% of Sub-Ch. 7224

Imports

6.39 ₹ Cr

0.0002% share

+1.91% YoY

1.72% of Sub-Ch. 7224

FY 2021-22 Exp. Rank #4997

Balance

+0.45

Exports

14.64 ₹ Cr

0.0005% share

+1,151.28% YoY

12.52% of Sub-Ch. 7224

Imports

14.19 ₹ Cr

0.0003% share

+122.07% YoY

5.14% of Sub-Ch. 7224

FY 2022-23 Exp. Rank #6080

Balance

−6.57

Exports

7.00 ₹ Cr

0.0002% share

−52.19% YoY

2.77% of Sub-Ch. 7224

Imports

13.57 ₹ Cr

0.0002% share

−4.37% YoY

4.59% of Sub-Ch. 7224

FY 2023-24 Exp. Rank #4661

Balance

+14.45

Exports

21.68 ₹ Cr

0.0006% share

+209.71% YoY

7.84% of Sub-Ch. 7224

Imports

7.23 ₹ Cr

0.0001% share

−46.72% YoY

2.17% of Sub-Ch. 7224

FY 2024-25 Exp. Rank #6035

Balance

+0.76

Exports

8.11 ₹ Cr

0.0002% share

−62.59% YoY

0.54% of Sub-Ch. 7224

Imports

7.35 ₹ Cr

0.0001% share

+1.66% YoY

2.99% of Sub-Ch. 7224

FY 2025-26 Exp. Rank #6780

Balance

−19.38

Exports

4.96 ₹ Cr

0.0001% share

−38.84% YoY

0.23% of Sub-Ch. 7224

Imports

24.34 ₹ Cr

0.0004% share

+231.16% YoY

13.05% of Sub-Ch. 7224

CAGR · 8-Year

Exports

45.46% /yr

Imports

19.10% /yr

Consistently Deficit
Sub-Chapter 7224 total

reference, FY 2025-26

Export

₹2,190.05 Cr

Import

₹186.45 Cr

Trade Balance

+2,003.60

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

Key Trade Insights: HSN Code 72249040 Export-Import Analysis

Consistent Export Growth: 45.46% CAGR Over 8 Years

India's exports under HSN Code 72249040 have grown at a compound annual rate of 45.46% over 8 fiscal years, rising from ₹0.36 Crore in FY 2018-19 to ₹4.96 Crore in FY 2025-26.

HSN Code 72249040 Ranked #6780 Among All 12872 HSN codes by Export Value

In FY 2025-26, HSN Code 72249040 ranks #6780 out of 12872 HSN codes by total export value. Within Sub-Chapter 7224, it ranks #6 of 7. By trade surplus, it ranks #9594 of 12872.

FY 2021-22 Was the Strongest Growth Year for HSN Code 72249040 Exports

The strongest single-year export movement for HSN Code 72249040 was recorded in FY 2021-22, when exports surged by 1,151.28% over the prior year.

India Records a Trade Deficit of ₹19.38 Crore in HSN Code 72249040 Goods

In FY 2025-26, India's imports of ₹24.34 Cr exceeded exports of ₹4.96 Cr, resulting in a trade deficit of ₹19.38 Crore — ranking #9594 of 12872 by surplus magnitude.

Import Growth of 19.10% CAGR Signals Rising Demand for Forged Alloy Steel Blanks

India's imports under HSN Code 72249040 have grown at 19.10% CAGR, reaching ₹24.34 Crore in FY 2025-26.

HSN Code 72249040 Contributes 0.23% of Sub-Chapter 7224 Exports — Ranked #6

Among the 7 HSN codes under Sub-Chapter 7224, HSN Code 72249040 ranks #6 by export value — accounting for 0.23% of the sub-chapter's total exports in FY 2025-26. On the import side, it holds 13.05% share (rank #4).

Frequently Asked Questions

Clear answers to common queries about HSN Code 72249040 and GST compliance.

What products are classified under HSN 72249040 ?

It includes Of silicon-electrical steel : Grain-oriented

Any common misclassification issue with Other / Forged Blanks Of Alloy Steel?

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 Other / Forged Blanks Of Alloy Steel is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Other / Forged Blanks Of Alloy Steel; Nil for exempt items if applicable).

Does packaging or labelling change the GST for Other / Forged Blanks Of Alloy 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.

How much GST applies to Other / Forged Blanks Of Alloy Steel?

Under HSN 72249040, Other / Forged Blanks Of Alloy Steel attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Can we claim ITC on inputs used to trade Other / Forged Blanks Of Alloy Steel?

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.