7206 HSN Code: Primary Iron & Steel

HSN Sub Chapter 7206 represents Primary Iron & Steel under GST classification. This code helps businesses identify Primary Iron & Steel correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7206, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Primary Iron & Steel.

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New GST Rate for HSN Code 7206

GST Rate for Primary Iron & Steel under HSN Code 7206. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

72

HSN Code

7206

HSN Description

Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading 7203)

New GST Rate

18 %
Standard

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 7206

Following tariff HSN codes fall under Primary Iron & Steel.

Tariff HSN

72061010

Description

Ingots : Of iron

Tariff HSN

72061020

Description

Ingots : Of high carbon steel

Tariff HSN

72061090

Description

Ingots : Other

Tariff HSN

72069011

Description

Other : Of iron : Puddled bars and pilings

Tariff HSN

72069012

Description

Other : Of iron : Blocks, lumps and similar forms

Tariff HSN

72069019

Description

Other : Of iron : Other

Tariff HSN

72069091

Description

Other : Other : Puddled bars and pilings

Tariff HSN

72069092

Description

Other : Other : Blocks, lumps and similar forms

Tariff HSN

72069099

Description

Other : Other : Other

India’s Trade Performance — HSN Sub-Chapter 7206 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

₹1,473 Cr

−2.48% vs FY 2023-24

0.0398% of India’s total exports

India’s Imports

FY 2024-25

₹103 Cr

+49.22% vs FY 2023-24

0.0017% of India’s total imports

Trade Balance

FY 2024-25

₹1,370 Cr

Trade Surplus

Surplus rank #161 of 1233 subchapters

% of Chapter 72

FY 2024-25

1.88%

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

Import side: 0.07% of Chapter 72’s imports

Rank Within Chapter 72

FY 2024-25

#11 of 29

Position by export value among subchapters in Chapter 72

Import-side rank: #29 of 29

At a glance

189.94%

Export CAGR

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

#320

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+36,773.91%

Peak Growth Year

FY 2021-22 · strongest single-year move

1.88%

Contribution to Ch. 72

Share of Chapter 72 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7206

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 #1096

Balance

−110.34

Exports

2.48 ₹ Cr

0.0001% share

— YoY

0.00% of Ch. 72

Imports

112.82 ₹ Cr

0.0031% share

— YoY

0.13% of Ch. 72

FY 2019-20 Exp. Rank #1092

Balance

−117.40

Exports

2.24 ₹ Cr

0.0001% share

−9.68% YoY

0.00% of Ch. 72

Imports

119.64 ₹ Cr

0.0036% share

+6.05% YoY

0.16% of Ch. 72

FY 2020-21 Exp. Rank #1096

Balance

−84.10

Exports

2.07 ₹ Cr

0.0001% share

−7.59% YoY

0.00% of Ch. 72

Imports

86.17 ₹ Cr

0.0030% share

−27.98% YoY

0.14% of Ch. 72

FY 2021-22 Exp. Rank #397

Balance

+691.63

Exports

763.29 ₹ Cr

0.0243% share

+36,773.91% YoY

0.45% of Ch. 72

Imports

71.66 ₹ Cr

0.0016% share

−16.84% YoY

0.08% of Ch. 72

FY 2022-23 Exp. Rank #323

Balance

+1,332.45

Exports

1,400.80 ₹ Cr

0.0387% share

+83.52% YoY

1.31% of Ch. 72

Imports

68.35 ₹ Cr

0.0012% share

−4.62% YoY

0.05% of Ch. 72

FY 2023-24 Exp. Rank #306

Balance

+1,441.63

Exports

1,510.83 ₹ Cr

0.0418% share

+7.85% YoY

1.54% of Ch. 72

Imports

69.20 ₹ Cr

0.0012% share

+1.24% YoY

0.04% of Ch. 72

FY 2024-25 Exp. Rank #320

Balance

+1,370.12

Exports

1,473.38 ₹ Cr

0.0398% share

−2.48% YoY

1.88% of Ch. 72

Imports

103.26 ₹ Cr

0.0017% share

+49.22% YoY

0.07% of Ch. 72

CAGR · 7-Year

Exports

189.94% /yr

Imports

−1.46% /yr

Consistently Surplus
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 7206 Export-Import Analysis

Consistent Export Growth: 189.94% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7206 have grown at a compound annual rate of 189.94% over 7 fiscal years, rising from ₹2.48 Crore in FY 2018-19 to ₹1,473.38 Crore in FY 2024-25.

HSN Sub-Chapter 7206 Ranked #320 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7206 ranks #320 out of 1233 subchapters by total export value. Within Chapter 72, it ranks #11 of 29. By trade surplus, it ranks #161 of 1233.

FY 2021-22 Was the Strongest Growth Year for HSN Sub-Chapter 7206 Exports

The strongest single-year export movement for HSN Sub-Chapter 7206 was recorded in FY 2021-22, when exports surged by 36,773.91% over the prior year.

India Maintains a Trade Surplus of ₹1,370.12 Crore in HSN Sub-Chapter 7206 Goods

In FY 2024-25, India's exports of ₹1,473.38 Cr exceeded imports of ₹103.26 Cr, resulting in a trade surplus of ₹1,370.12 Crore — ranking #161 of 1233 by surplus magnitude.

Import Growth of −1.46% CAGR Signals Stable Import Dependency for Primary Iron & Steel

India's imports under HSN Sub-Chapter 7206 have grown at −1.46% CAGR, reaching ₹103.26 Crore in FY 2024-25.

HSN Sub-Chapter 7206 Contributes 1.88% of Chapter 72 Exports — Ranked #11

Among the 29 subchapters under Chapter 72, HSN Sub-Chapter 7206 ranks #11 by export value — accounting for 1.88% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.07% share (rank #29).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7206 and GST compliance.

What products are classified under HSN 7206

It includes Primary Iron & Steel

Any special steps when selling Primary Iron & Steel 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.

How are warranty replacements of Primary Iron & Steel 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 misclassification mistakes happen with Primary Iron & Steel?

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.

Is the composition scheme suitable if I mainly trade Primary Iron & Steel?

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.

If I repair and return Primary Iron & Steel, 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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