7112 HSN Code: Precious metal scrap for recovery

HSN Sub Chapter 7112 represents Precious metal scrap for recovery under GST classification. This code helps businesses identify Precious metal scrap for recovery correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7112, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Precious metal scrap for recovery.

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New GST Rate for HSN Code 7112

GST Rate for Precious metal scrap for recovery under HSN Code 7112. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

71

HSN Code

7112

HSN Description

Waste and scrap of precious metal or of metal clad with precious metal; other waste and scrap containing precious metal or precious metal compounds, of a kind used principally for the recovery of precious metal other than goods of heading 8549

New GST Rate

3 %
Essential

Old GST Rate

3 %

Tariff HSN Codes under HSN Sub Chapter 7112

Following tariff HSN codes fall under Precious metal scrap for recovery.

Tariff HSN

71123000

Description

Ash containing precious metal or precious metal compounds

Tariff HSN

71129100

Description

Other : Of gold, including metal clad with gold but excluding sweepings containing other precious metals

Tariff HSN

71129200

Description

Other : Of platinum, including metal clad with platinum but excluding sweepings containing other precious metals

Tariff HSN

71129910

Description

Other : Other : Of silver, including metal clad with silver but excluding sweepings containing other precious metals

Tariff HSN

71129920

Description

Other : Other : Sweepings containing gold or silver

Tariff HSN

71129990

Description

Other : Other : Other

India’s Trade Performance — HSN Sub-Chapter 7112 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

₹1,000 Cr

+11.27% vs FY 2023-24

0.0270% of India’s total exports

India’s Imports

FY 2024-25

₹484 Cr

+227.39% vs FY 2023-24

0.0079% of India’s total imports

Trade Balance

FY 2024-25

₹515 Cr

Trade Surplus

Surplus rank #256 of 1233 subchapters

% of Chapter 71

FY 2024-25

0.39%

Share of Chapter 71’s total exports in FY 2024-25

Import side: 0.06% of Chapter 71’s imports

Rank Within Chapter 71

FY 2024-25

#8 of 18

Position by export value among subchapters in Chapter 71

Import-side rank: #9 of 18

At a glance

5.38%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#389

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+197.18%

Peak Growth Year

FY 2020-21 · strongest single-year move

0.39%

Contribution to Ch. 71

Share of Chapter 71 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7112

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #353

Balance

+639.71

Exports

729.80 ₹ Cr

0.0318% share

— YoY

0.26% of Ch. 71

Imports

90.09 ₹ Cr

0.0025% share

— YoY

0.02% of Ch. 71

FY 2019-20 Exp. Rank #435

Balance

+401.74

Exports

449.97 ₹ Cr

0.0204% share

−38.34% YoY

0.18% of Ch. 71

Imports

48.23 ₹ Cr

0.0014% share

−46.46% YoY

0.01% of Ch. 71

FY 2020-21 Exp. Rank #251

Balance

+810.45

Exports

1,337.20 ₹ Cr

0.0622% share

+197.18% YoY

0.69% of Ch. 71

Imports

526.75 ₹ Cr

0.0181% share

+992.16% YoY

0.13% of Ch. 71

FY 2021-22 Exp. Rank #320

Balance

+998.98

Exports

1,271.36 ₹ Cr

0.0405% share

−4.92% YoY

0.43% of Ch. 71

Imports

272.38 ₹ Cr

0.0060% share

−48.29% YoY

0.04% of Ch. 71

FY 2022-23 Exp. Rank #356

Balance

+148.00

Exports

1,166.88 ₹ Cr

0.0322% share

−8.22% YoY

0.38% of Ch. 71

Imports

1,018.88 ₹ Cr

0.0177% share

+274.07% YoY

0.17% of Ch. 71

FY 2023-24 Exp. Rank #394

Balance

+750.44

Exports

898.37 ₹ Cr

0.0248% share

−23.01% YoY

0.33% of Ch. 71

Imports

147.93 ₹ Cr

0.0026% share

−85.48% YoY

0.02% of Ch. 71

FY 2024-25 Exp. Rank #389

Balance

+515.33

Exports

999.64 ₹ Cr

0.0270% share

+11.27% YoY

0.39% of Ch. 71

Imports

484.31 ₹ Cr

0.0079% share

+227.39% YoY

0.06% of Ch. 71

CAGR · 7-Year

Exports

5.38% /yr

Imports

32.36% /yr

Consistently Surplus
Chapter 71 total

reference, FY 2024-25

Export

₹2,53,600.88 Cr

Import

₹7,52,091.61 Cr

Trade Balance

−4,98,490.73

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

Key Trade Insights: HSN Sub-Chapter 7112 Export-Import Analysis

Consistent Export Growth: 5.38% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7112 have grown at a compound annual rate of 5.38% over 7 fiscal years, rising from ₹729.80 Crore in FY 2018-19 to ₹999.64 Crore in FY 2024-25.

HSN Sub-Chapter 7112 Ranked #389 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7112 ranks #389 out of 1233 subchapters by total export value. Within Chapter 71, it ranks #8 of 18. By trade surplus, it ranks #256 of 1233.

FY 2020-21 Was the Strongest Growth Year for HSN Sub-Chapter 7112 Exports

The strongest single-year export movement for HSN Sub-Chapter 7112 was recorded in FY 2020-21, when exports surged by 197.18% over the prior year.

India Maintains a Trade Surplus of ₹515.33 Crore in HSN Sub-Chapter 7112 Goods

In FY 2024-25, India's exports of ₹999.64 Cr exceeded imports of ₹484.31 Cr, resulting in a trade surplus of ₹515.33 Crore — ranking #256 of 1233 by surplus magnitude.

Import Growth of 32.36% CAGR Signals Rising Demand for Precious metal scrap for recovery

India's imports under HSN Sub-Chapter 7112 have grown at 32.36% CAGR, reaching ₹484.31 Crore in FY 2024-25.

HSN Sub-Chapter 7112 Contributes 0.39% of Chapter 71 Exports — Ranked #8

Among the 18 subchapters under Chapter 71, HSN Sub-Chapter 7112 ranks #8 by export value — accounting for 0.39% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.06% share (rank #9).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7112 and GST compliance.

What products are classified under HSN 7112

It includes Precious metal scrap for recovery

Does packaging or branding change how GST applies to Precious metal scrap for recovery?

Yes. Many food/agri goods are treated differently when sold as pre‑packaged & labelled retail packs versus loose/open packs. If Precious metal scrap for recovery is sold in small pouches (e.g., 500 g) with an MRP and label, record that on the invoice. Loose bulk bags often follow a different treatment.

Does MRP, weight or pack size change GST treatment for Precious metal scrap for recovery?

Some entries use MRP/weight‑based conditions for classification. Keep pack size, retail marking and brand status on records and invoice to support the chosen HSN.

Can reverse charge ever apply to transactions involving Precious metal scrap for recovery?

Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Precious metal scrap for recovery are forward charge. Check the current notifications for any special cases before deciding.

Is the composition scheme suitable if I mainly trade Precious metal scrap for recovery?

The composition scheme is optional for eligible small suppliers of goods. You cannot issue tax invoices or collect tax under composition. Check turnover limits and exclusions; evaluate margins and ITC loss before opting in.

How should I document Precious metal scrap for recovery sent for job work?

Use a delivery challan for sending Precious metal scrap for recovery to the job worker. Declare movement in your records and reconcile when the goods return. If the job worker raises a service invoice, classify it under SAC; your goods remain under the original HSN.

How are warranty replacements of Precious metal scrap for recovery handled?

If replacement is without consideration under a pre‑agreed warranty, issue a delivery challan and reference the original invoice/contract. If consideration is charged, raise a tax invoice. Keep serial/lot details for traceability.

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.

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