7204 HSN Code: Ferrous scrap

HSN Sub Chapter 7204 represents Ferrous scrap under GST classification. This code helps businesses identify Ferrous scrap correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7204, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Ferrous scrap.

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New GST Rate for HSN Code 7204

GST Rate for Ferrous scrap under HSN Code 7204. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

72

HSN Code

7204

HSN Description

Ferrous waste and scrap; remelting scrap ingots of iron or steel

New GST Rate

18 %
Standard

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 7204

Following tariff HSN codes fall under Ferrous scrap.

Tariff HSN

72041000

Description

Waste and scrap of cast iron

Tariff HSN

72042110

Description

Waste and scrap of alloy steel : Of stainless steel : Empty or discharged cartridges of all bores and sizes

Tariff HSN

72042190

Description

Waste and scrap of alloy steel : Of stainless steel : Other

Tariff HSN

72042910

Description

Waste and scrap of alloy steel : Other : Empty or discharged cartridges of all bores and sizes

Tariff HSN

72042920

Description

Waste and scrap of alloy steel : Other : Of high speed steel

Tariff HSN

72042990

Description

Waste and scrap of alloy steel : Other : Other

Tariff HSN

72043000

Description

Waste and scrap of tinned iron or steel

Tariff HSN

72044100

Description

Other waste and scrap : Turnings, shavings, chips, milling waste, saw dust, fillings, trimmings and stampings, whether or not in bundles

Tariff HSN

72044900

Description

Other waste and scrap : Other

Tariff HSN

72045000

Description

Remelting scrap ingots

India’s Trade Performance — HSN Sub-Chapter 7204 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

₹122 Cr

+9.90% vs FY 2023-24

0.0033% of India’s total exports

India’s Imports

FY 2024-25

₹43,318 Cr

−17.10% vs FY 2023-24

0.7103% of India’s total imports

Trade Balance

FY 2024-25

−₹43,195 Cr

Trade Deficit

Surplus rank #1201 of 1233 subchapters

% of Chapter 72

FY 2024-25

0.16%

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

Import side: 29.45% of Chapter 72’s imports

Rank Within Chapter 72

FY 2024-25

#29 of 29

Position by export value among subchapters in Chapter 72

Import-side rank: #1 of 29

At a glance

11.15%

Export CAGR

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

#797

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+64.45%

Peak Growth Year

FY 2022-23 · strongest single-year move

0.16%

Contribution to Ch. 72

Share of Chapter 72 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7204

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 #795

Balance

−25,604.63

Exports

64.85 ₹ Cr

0.0028% share

— YoY

0.10% of Ch. 72

Imports

25,669.48 ₹ Cr

0.7148% share

— YoY

29.17% of Ch. 72

FY 2019-20 Exp. Rank #796

Balance

−24,110.34

Exports

68.83 ₹ Cr

0.0031% share

+6.14% YoY

0.10% of Ch. 72

Imports

24,179.17 ₹ Cr

0.7208% share

−5.81% YoY

31.88% of Ch. 72

FY 2020-21 Exp. Rank #798

Balance

−21,275.56

Exports

64.92 ₹ Cr

0.0030% share

−5.68% YoY

0.07% of Ch. 72

Imports

21,340.48 ₹ Cr

0.7324% share

−11.74% YoY

34.82% of Ch. 72

FY 2021-22 Exp. Rank #792

Balance

−32,257.35

Exports

94.12 ₹ Cr

0.0030% share

+44.98% YoY

0.06% of Ch. 72

Imports

32,351.47 ₹ Cr

0.7078% share

+51.60% YoY

34.40% of Ch. 72

FY 2022-23 Exp. Rank #735

Balance

−54,051.05

Exports

154.78 ₹ Cr

0.0043% share

+64.45% YoY

0.14% of Ch. 72

Imports

54,205.83 ₹ Cr

0.9428% share

+67.55% YoY

37.93% of Ch. 72

FY 2023-24 Exp. Rank #797

Balance

−52,144.21

Exports

111.24 ₹ Cr

0.0031% share

−28.13% YoY

0.11% of Ch. 72

Imports

52,255.45 ₹ Cr

0.9305% share

−3.60% YoY

33.83% of Ch. 72

FY 2024-25 Exp. Rank #797

Balance

−43,195.28

Exports

122.25 ₹ Cr

0.0033% share

+9.90% YoY

0.16% of Ch. 72

Imports

43,317.53 ₹ Cr

0.7103% share

−17.10% YoY

29.45% of Ch. 72

CAGR · 7-Year

Exports

11.15% /yr

Imports

9.11% /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 7204 Export-Import Analysis

Consistent Export Growth: 11.15% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7204 have grown at a compound annual rate of 11.15% over 7 fiscal years, rising from ₹64.85 Crore in FY 2018-19 to ₹122.25 Crore in FY 2024-25.

HSN Sub-Chapter 7204 Ranked #797 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7204 ranks #797 out of 1233 subchapters by total export value. Within Chapter 72, it ranks #29 of 29. By trade surplus, it ranks #1201 of 1233.

FY 2022-23 Was the Strongest Growth Year for HSN Sub-Chapter 7204 Exports

The strongest single-year export movement for HSN Sub-Chapter 7204 was recorded in FY 2022-23, when exports surged by 64.45% over the prior year.

India Records a Trade Deficit of ₹43,195.28 Crore in HSN Sub-Chapter 7204 Goods

In FY 2024-25, India's imports of ₹43,317.53 Cr exceeded exports of ₹122.25 Cr, resulting in a trade deficit of ₹43,195.28 Crore — ranking #1201 of 1233 by surplus magnitude.

Import Growth of 9.11% CAGR Signals Stable Import Dependency for Ferrous scrap

India's imports under HSN Sub-Chapter 7204 have grown at 9.11% CAGR, reaching ₹43,317.53 Crore in FY 2024-25.

HSN Sub-Chapter 7204 Contributes 0.16% of Chapter 72 Exports — Ranked #29

Among the 29 subchapters under Chapter 72, HSN Sub-Chapter 7204 ranks #29 by export value — accounting for 0.16% of the chapter's total exports in FY 2024-25. On the import side, it holds 29.45% share (rank #1).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7204 and GST compliance.

What products are classified under HSN 7204

It includes Ferrous scrap

How do I bill a kit or combo that includes Ferrous scrap?

Prefer separate lines per item with its HSN so each component follows its own tax treatment. If it is a naturally bundled supply, identify the principal supply and tax the whole bundle accordingly.

Any special steps when selling Ferrous scrap through an e‑commerce platform?

Ensure registration requirements are met and reconcile the operator’s TCS statements with your GSTR‑2B/3B. Map SKU descriptions to HSN to reduce mismatches and returns.

What misclassification mistakes happen with Ferrous scrap?

Using a broad or incorrect HSN, ignoring material/form (e.g., raw vs processed), or mixing goods and services on one line. Always match wording to the HSN Notes and keep a classification working paper.

Do spares or accessories of Ferrous scrap 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.

If I repair and return Ferrous scrap, how should I charge GST?

Repair/service is a service supply (SAC). Parts and materials used are goods and may be billed separately with HSN. Mention both lines clearly to avoid mixing service and goods values.

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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