7203 HSN Code: Ferrous products, iron 99.94% purity

HSN Sub Chapter 7203 represents Ferrous products, iron 99.94% purity under GST classification. This code helps businesses identify Ferrous products, iron 99.94% purity correctly for billing, taxation, and trade. With HSN Sub Chapter 7203, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Ferrous products, iron 99.94% purity.

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Chapter No	HSN Code	HSN Description	New GST Rate	Old GST Rate
72	7203	Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having minimum purity by weight of 99.94%, in lumps, pellets or similar forms	18%	18%

HSN Code 7203

Chapter: 72

Description: Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having minimum purity by weight of 99.94%, in lumps, pellets or similar forms

New GST Rate: 18% Old GST Rate: 18%

Tariff HSN	Description
72031000	Ferrous products obtained by direct reduction of iron ore
72031000	Ferrous products obtained by direct reduction of iron ore
72039000	Other
72039000	Other

HSN Code 72031000

Ferrous products obtained by direct reduction of iron ore

HSN Code 72031000

Ferrous products obtained by direct reduction of iron ore

HSN Code 72039000

Other

HSN Code 72039000

Other

Wrong HSN codes causing GST errors? BUSY auto-applies the correct code & rate on desktop and mobile.

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Order Number	Description
GST-ARA-HP/2020-21/20870-76	M/S. Aditya Industries (AAR (Authority For Advance Ruling), Himachal Pradesh)

Order No. GST-ARA-HP/2020-21/20870-76

M/S. Aditya Industries (AAR (Authority For Advance Ruling), Himachal Pradesh)

What products are classified under HSN 7203

It includes Ferrous products, iron 99.94% purity

How are warranty replacements of Ferrous products, iron 99.94% purity 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.

Any import/export nuance for Ferrous products, iron 99.94% purity?

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 should I document Ferrous products, iron 99.94% purity sent for job work?

Use a delivery challan for sending Ferrous products, iron 99.94% purity 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.

Is the composition scheme suitable if I mainly trade Ferrous products, iron 99.94% purity?

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.

Do spares or accessories of Ferrous products, iron 99.94% purity 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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