7201 HSN Code: Pig iron

HSN Sub Chapter 7201 represents Pig iron under GST classification. This code helps businesses identify Pig iron correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7201, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Pig iron.

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New GST Rate for HSN Code 7201

GST Rate for Pig iron under HSN Code 7201. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

72

HSN Code

7201

HSN Description

Pig iron and spiegeleisen in pigs, blocks or other primary forms

New GST Rate

3 %
Essential

Old GST Rate

3 %

Tariff HSN Codes under HSN Sub Chapter 7201

Following tariff HSN codes fall under Pig iron.

Tariff HSN

72011000

Description

Non-alloy pig iron containing by weight 0.5% or less of phosphorus

Tariff HSN

72012000

Description

Non-alloy pig iron containing by weight more than 0.5% of phosphorus

Tariff HSN

72015010

Description

Alloy pig iron; spiegeleisen : Cast iron

Tariff HSN

72015090

Description

Alloy pig iron; spiegeleisen : Other

India’s Trade Performance — HSN Sub-Chapter 7201 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

₹977 Cr

−33.19% vs FY 2023-24

0.0264% of India’s total exports

India’s Imports

FY 2024-25

₹1,114 Cr

−5.18% vs FY 2023-24

0.0183% of India’s total imports

Trade Balance

FY 2024-25

−₹136 Cr

Trade Deficit

Surplus rank #747 of 1233 subchapters

% of Chapter 72

FY 2024-25

1.25%

Share of Chapter 72’s total exports in FY 2024-25

Import side: 0.76% of Chapter 72’s imports

Rank Within Chapter 72

FY 2024-25

#15 of 29

Position by export value among subchapters in Chapter 72

Import-side rank: #15 of 29

At a glance

2.88%

Export CAGR

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

#394

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+207.11%

Peak Growth Year

FY 2020-21 · strongest single-year move

1.25%

Contribution to Ch. 72

Share of Chapter 72 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7201

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 #323

Balance

+741.69

Exports

824.11 ₹ Cr

0.0359% share

— YoY

1.21% of Ch. 72

Imports

82.42 ₹ Cr

0.0023% share

— YoY

0.09% of Ch. 72

FY 2019-20 Exp. Rank #397

Balance

+469.92

Exports

527.24 ₹ Cr

0.0239% share

−36.02% YoY

0.80% of Ch. 72

Imports

57.32 ₹ Cr

0.0017% share

−30.45% YoY

0.08% of Ch. 72

FY 2020-21 Exp. Rank #219

Balance

+1,582.45

Exports

1,619.20 ₹ Cr

0.0753% share

+207.11% YoY

1.80% of Ch. 72

Imports

36.75 ₹ Cr

0.0013% share

−35.89% YoY

0.06% of Ch. 72

FY 2021-22 Exp. Rank #163

Balance

+3,294.56

Exports

3,358.24 ₹ Cr

0.1070% share

+107.40% YoY

1.97% of Ch. 72

Imports

63.68 ₹ Cr

0.0014% share

+73.28% YoY

0.07% of Ch. 72

FY 2022-23 Exp. Rank #193

Balance

+2,241.15

Exports

2,734.83 ₹ Cr

0.0755% share

−18.56% YoY

2.56% of Ch. 72

Imports

493.68 ₹ Cr

0.0086% share

+675.25% YoY

0.35% of Ch. 72

FY 2023-24 Exp. Rank #317

Balance

+288.32

Exports

1,462.89 ₹ Cr

0.0404% share

−46.51% YoY

1.49% of Ch. 72

Imports

1,174.57 ₹ Cr

0.0209% share

+137.92% YoY

0.76% of Ch. 72

FY 2024-25 Exp. Rank #394

Balance

−136.41

Exports

977.33 ₹ Cr

0.0264% share

−33.19% YoY

1.25% of Ch. 72

Imports

1,113.74 ₹ Cr

0.0183% share

−5.18% YoY

0.76% of Ch. 72

CAGR · 7-Year

Exports

2.88% /yr

Imports

54.33% /yr

Consistently Deficit
Chapter 72 total

reference, FY 2024-25

Export

₹78,223.76 Cr

Import

₹1,47,109.35 Cr

Trade Balance

−68,885.59

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

Key Trade Insights: HSN Sub-Chapter 7201 Export-Import Analysis

Consistent Export Growth: 2.88% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7201 have grown at a compound annual rate of 2.88% over 7 fiscal years, rising from ₹824.11 Crore in FY 2018-19 to ₹977.33 Crore in FY 2024-25.

HSN Sub-Chapter 7201 Ranked #394 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7201 ranks #394 out of 1233 subchapters by total export value. Within Chapter 72, it ranks #15 of 29. By trade surplus, it ranks #747 of 1233.

FY 2020-21 Was the Strongest Growth Year for HSN Sub-Chapter 7201 Exports

The strongest single-year export movement for HSN Sub-Chapter 7201 was recorded in FY 2020-21, when exports surged by 207.11% over the prior year.

India Records a Trade Deficit of ₹136.41 Crore in HSN Sub-Chapter 7201 Goods

In FY 2024-25, India's imports of ₹1,113.74 Cr exceeded exports of ₹977.33 Cr, resulting in a trade deficit of ₹136.41 Crore — ranking #747 of 1233 by surplus magnitude.

Import Growth of 54.33% CAGR Signals Rising Demand for Pig iron

India's imports under HSN Sub-Chapter 7201 have grown at 54.33% CAGR, reaching ₹1,113.74 Crore in FY 2024-25.

HSN Sub-Chapter 7201 Contributes 1.25% of Chapter 72 Exports — Ranked #15

Among the 29 subchapters under Chapter 72, HSN Sub-Chapter 7201 ranks #15 by export value — accounting for 1.25% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.76% share (rank #15).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7201 and GST compliance.

What products are classified under HSN 7201

It includes Pig iron

How should I document Pig iron sent for job work?

Use a delivery challan for sending Pig iron 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.

Does MRP, weight or pack size change GST treatment for Pig iron?

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.

Any import/export nuance for Pig iron?

Exports are zero‑rated (with or without payment of IGST) subject to LUT/refund conditions. Imports may attract customs duties in addition to GST. Keep HSN‑wise description consistent across invoice, shipping bill and BOE.

How are warranty replacements of Pig iron 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.

What should my invoice and records include for Pig iron?

Include HSN, exact description, pack size/grade, quantity, and if pre‑packaged & labelled. Maintain purchase specs, test reports (where relevant), and job‑work challans for audit trail.

Do spares or accessories of Pig iron follow the same HSN?

Not always. Spares are often classified by their own description or by the function/part rule. Check if a specific sub‑heading exists for parts of the main item and describe the part on the invoice.

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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