HSN Code 72249040: Other | Forged Blanks Of Alloy Steel
HSN Code 72249040 represents Other | Forged Blanks Of Alloy Steel under GST classification. This code helps businesses identify Other | Forged Blanks Of Alloy Steel 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 Other | Forged Blanks Of Alloy Steel.
Experience the power of Expert Accounting
Join our guided walkthrough to see how BUSY can transform your business operations.
Description of Goods for HSN Code 72249040
HSN Code 72249040 relates to the following description.
What does HSN Code 72249040 not include?
Other | Forged Blanks Of Alloy 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 : Of cobalt bearing high speed steel quality
Other : Other : Billets
Other : Other : Other
India’s Trade Performance — HSN Code 72249040 in FY 2024-25
India’s Exports
FY 2024-25₹8 Cr
0.0002% of India’s total exports
India’s Imports
FY 2024-25₹7 Cr
0.0001% of India’s total imports
Trade Balance
FY 2024-25< ₹1 Crore
Surplus rank #4631 of 12657 HSN codes
% of Sub-Chapter 7224
FY 2024-250.54%
Share of Sub-Chapter 7224’s total exports in FY 2024-25
Import side: 2.99% of Sub-Chapter 7224’s imports
Rank Within Sub-Chapter 7224
FY 2024-25#4 of 7
Position by export value among HSN codes in Sub-Chapter 7224
Import-side rank: #5 of 7
At a glance
68.06%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#6035
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+1,151.28%
Peak Growth Year
FY 2021-22 · strongest single-year move
0.54%
Contribution to Sub-Ch. 7224
Share of Sub-Chapter 7224 exports in FY 2024-25
India Export-Import Trade Statistics for HSN Code 72249040
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
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
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
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
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
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
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
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
CAGR · 7-Year
Exports
68.06% /yr
Imports
0.44% /yr
reference, FY 2024-25
Export
₹1,500.26 Cr
Import
₹245.74 Cr
Trade Balance
+1,254.52
Key Trade Insights: HSN Code 72249040 Export-Import Analysis
Consistent Export Growth: 68.06% CAGR Over 7 Years
India's exports under HSN Code 72249040 have grown at a compound annual rate of 68.06% over 7 fiscal years, rising from ₹0.36 Crore in FY 2018-19 to ₹8.11 Crore in FY 2024-25.
HSN Code 72249040 Ranked #6035 Among All 12657 HSN codes by Export Value
In FY 2024-25, HSN Code 72249040 ranks #6035 out of 12657 HSN codes by total export value. Within Sub-Chapter 7224, it ranks #4 of 7. By trade surplus, it ranks #4631 of 12657.
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 Maintains a Trade Surplus of ₹0.76 Crore in HSN Code 72249040 Goods
In FY 2024-25, India's exports of ₹8.11 Cr exceeded imports of ₹7.35 Cr, resulting in a trade surplus of ₹0.76 Crore — ranking #4631 of 12657 by surplus magnitude.
Import Growth of 0.44% CAGR Signals Stable Import Dependency for Other | Forged Blanks Of Alloy Steel
India's imports under HSN Code 72249040 have grown at 0.44% CAGR, reaching ₹7.35 Crore in FY 2024-25.
HSN Code 72249040 Contributes 0.54% of Sub-Chapter 7224 Exports — Ranked #4
Among the 7 HSN codes under Sub-Chapter 7224, HSN Code 72249040 ranks #4 by export value — accounting for 0.54% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 2.99% share (rank #5).
Stop worrying about
HSN & TAX compliance
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
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.