HSN Code 73241000: Sinks, Wash Basins| Stainless Steel
HSN Code 73241000 represents Sinks, Wash Basins| Stainless Steel under GST classification. This code helps businesses identify Sinks, Wash Basins| Stainless Steel correctly for billing, taxation, and trade. With HSN Code 73241000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Sinks, Wash Basins| Stainless Steel.
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Description of Goods for HSN Code 73241000
HSN Code 73241000 relates to the following description.
What does HSN Code 73241000 not include?
Sinks, Wash Basins| Stainless Steel does not include products with the following descriptions.
Baths : Of cast iron, whether or not enamelled
Baths : Other
Baths : Of cast iron, whether or not enamelled
India’s Trade Performance — HSN Code 73241000 in FY 2024-25
India’s Exports
FY 2024-25₹58 Cr
0.0016% of India’s total exports
India’s Imports
FY 2024-25₹124 Cr
0.0020% of India’s total imports
Trade Balance
FY 2024-25−₹66 Cr
Surplus rank #10464 of 12657 HSN codes
% of Sub-Chapter 7324
FY 2024-2544.94%
Share of Sub-Chapter 7324’s total exports in FY 2024-25
Import side: 24.20% of Sub-Chapter 7324’s imports
Rank Within Sub-Chapter 7324
FY 2024-25#1 of 4
Position by export value among HSN codes in Sub-Chapter 7324
Import-side rank: #3 of 4
At a glance
17.61%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#3430
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+59.89%
Peak Growth Year
FY 2020-21 · strongest single-year move
44.94%
Contribution to Sub-Ch. 7324
Share of Sub-Chapter 7324 exports in FY 2024-25
India Export-Import Trade Statistics for HSN Code 73241000
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−37.55
Exports
21.76 ₹ Cr
0.0010% share
— YoY
33.54% of Sub-Ch. 7324
Imports
59.31 ₹ Cr
0.0017% share
— YoY
21.25% of Sub-Ch. 7324
Balance
−40.08
Exports
25.08 ₹ Cr
0.0011% share
+15.26% YoY
36.22% of Sub-Ch. 7324
Imports
65.16 ₹ Cr
0.0019% share
+9.86% YoY
25.95% of Sub-Ch. 7324
Balance
−27.64
Exports
40.10 ₹ Cr
0.0019% share
+59.89% YoY
49.40% of Sub-Ch. 7324
Imports
67.74 ₹ Cr
0.0023% share
+3.96% YoY
28.12% of Sub-Ch. 7324
Balance
−39.10
Exports
46.50 ₹ Cr
0.0015% share
+15.96% YoY
45.49% of Sub-Ch. 7324
Imports
85.60 ₹ Cr
0.0019% share
+26.37% YoY
25.82% of Sub-Ch. 7324
Balance
−55.59
Exports
45.09 ₹ Cr
0.0012% share
−3.03% YoY
39.63% of Sub-Ch. 7324
Imports
100.68 ₹ Cr
0.0018% share
+17.62% YoY
24.78% of Sub-Ch. 7324
Balance
−98.59
Exports
41.61 ₹ Cr
0.0012% share
−7.72% YoY
42.01% of Sub-Ch. 7324
Imports
140.20 ₹ Cr
0.0025% share
+39.25% YoY
30.39% of Sub-Ch. 7324
Balance
−66.43
Exports
57.59 ₹ Cr
0.0016% share
+38.40% YoY
44.94% of Sub-Ch. 7324
Imports
124.02 ₹ Cr
0.0020% share
−11.54% YoY
24.20% of Sub-Ch. 7324
CAGR · 7-Year
Exports
17.61% /yr
Imports
13.08% /yr
reference, FY 2024-25
Export
₹128.14 Cr
Import
₹512.53 Cr
Trade Balance
−384.39
Key Trade Insights: HSN Code 73241000 Export-Import Analysis
Consistent Export Growth: 17.61% CAGR Over 7 Years
India's exports under HSN Code 73241000 have grown at a compound annual rate of 17.61% over 7 fiscal years, rising from ₹21.76 Crore in FY 2018-19 to ₹57.59 Crore in FY 2024-25.
HSN Code 73241000 Ranked #3430 Among All 12657 HSN codes by Export Value
In FY 2024-25, HSN Code 73241000 ranks #3430 out of 12657 HSN codes by total export value. Within Sub-Chapter 7324, it ranks #1 of 4. By trade surplus, it ranks #10464 of 12657.
FY 2020-21 Was the Strongest Growth Year for HSN Code 73241000 Exports
The strongest single-year export movement for HSN Code 73241000 was recorded in FY 2020-21, when exports surged by 59.89% over the prior year.
India Records a Trade Deficit of ₹66.43 Crore in HSN Code 73241000 Goods
In FY 2024-25, India's imports of ₹124.02 Cr exceeded exports of ₹57.59 Cr, resulting in a trade deficit of ₹66.43 Crore — ranking #10464 of 12657 by surplus magnitude.
Import Growth of 13.08% CAGR Signals Rising Demand for Sinks, Wash Basins| Stainless Steel
India's imports under HSN Code 73241000 have grown at 13.08% CAGR, reaching ₹124.02 Crore in FY 2024-25.
HSN Code 73241000 Contributes 44.94% of Sub-Chapter 7324 Exports — Ranked #1
Among the 4 HSN codes under Sub-Chapter 7324, HSN Code 73241000 ranks #1 by export value — accounting for 44.94% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 24.20% share (rank #3).
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Frequently Asked Questions
Clear answers to common queries about HSN Code 73241000 and GST compliance.
What products are classified under HSN 73241000 ?
It includes Cast Iron Baths (Other)
Does packaging or labelling change the GST for Sinks, Wash Basins/ Stainless 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 Sinks, Wash Basins/ Stainless Steel?
Under HSN 73241000, Sinks, Wash Basins/ Stainless Steel attracts Varies when sold in taxable form. Describe the exact form on the invoice.
Can we claim ITC on inputs used to trade Sinks, Wash Basins/ Stainless 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 Sinks, Wash Basins/ Stainless 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 Sinks, Wash Basins/ Stainless Steel?
Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.