Export Decline: −11.13% CAGR Over 7 Years
India's exports under HSN Sub-Chapter 7208 have declined at a compound annual rate of −11.13% over 7 fiscal years, falling from ₹14,028.73 Crore in FY 2018-19 to ₹6,913.06 Crore in FY 2024-25.
HSN Sub Chapter 7208 represents Hot-rolled iron & steel products under GST classification. This code helps businesses identify Hot-rolled iron & steel products correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7208, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Hot-rolled iron & steel products.
Join our guided walkthrough to see how BUSY can transform your business operations.
GST Rate for Hot-rolled iron & steel products under HSN Code 7208. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.
Following tariff HSN codes fall under Hot-rolled iron & steel products.
Tariff HSN
Description
In coils, not further worked than hot-rolled, with patterns in relief
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 4.75 mm or more : Plates
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 4.75 mm or more : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 4.75 mm or more : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 4.75 mm or more : Strip
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 4.75 mm or more : Other
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 3 mm or more but less than 4.75 mm : Plates
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 3 mm or more but less than 4.75 mm : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 3 mm or more but less than 4.75 mm : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 3 mm or more but less than 4.75 mm : Strip
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of 3 mm or more but less than 4.75 mm : Other
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of less than 3 mm : Plates
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of less than 3 mm : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of less than 3 mm : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of less than 3 mm : Strip
Tariff HSN
Description
Other, in coils, not further worked than hotrolled, pickled : Of a thickness of less than 3 mm : Other
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness exceeding 10 mm : Plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness exceeding 10 mm : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness exceeding 10 mm : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness exceeding 10 mm : Strip
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness exceeding 10 mm : Other
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 4.75 mm or more but not exceeding 10 mm : Plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 4.75 mm or more but not exceeding 10 mm : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 4.75 mm or more but not exceeding 10 mm : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 4.75 mm or more but not exceeding 10 mm : Strip
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 4.75 mm or more but not exceeding 10 mm : Other
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 3 mm or more but less than 4.75 mm : Plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 3 mm or more but less than 4.75 mm : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 3 mm or more but less than 4.75 mm : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 3 mm or more but less than 4.75 mm : Strip
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of 3 mm or more but less than 4.75 mm : Other
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of less than 3 mm : Plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of less than 3 mm : Universal plates
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of less than 3 mm : Sheets
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of less than 3 mm : Strip
Tariff HSN
Description
Other, in coils, not further worked than hot-rolled: Of a thickness of less than 3 mm : Other
Tariff HSN
Description
Not in coils, not further worked than hot-rolled, with patterns in relief : Plates
Tariff HSN
Description
Not in coils, not further worked than hot-rolled, with patterns in relief : Universal plates
Tariff HSN
Description
Not in coils, not further worked than hot-rolled, with patterns in relief : Sheets
Tariff HSN
Description
Not in coils, not further worked than hot-rolled, with patterns in relief : Strip
Tariff HSN
Description
Not in coils, not further worked than hot-rolled, with patterns in relief : Other
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness exceeding 10 mm : Plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness exceeding 10 mm : Universal plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness exceeding 10 mm : Sheets
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness exceeding 10 mm : Strip
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness exceeding 10 mm : Other
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 4.75 mm or more but not exceeding 10 mm : Plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 4.75 mm or more but not exceeding 10 mm : Universal plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 4.75 mm or more but not exceeding 10 mm : Sheets
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 4.75 mm or more but not exceeding 10 mm : Strip
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 4.75 mm or more but not exceeding 10 mm : Other
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 3 mm or more but less than 4.75 mm : Plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 3 mm or more but less than 4.75 mm : Universal plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 3 mm or more but less than 4.75 mm : Sheets
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 3 mm or more but less than 4.75 mm : Strip
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of 3 mm or more but less than 4.75 mm : Other
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of less than 3 mm : Plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of less than 3 mm : Universal plates
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of less than 3 mm : Sheets
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of less than 3 mm : Strip
Tariff HSN
Description
Other, not in coils, not further worked than hot-rolled : Of a thickness of less than 3 mm : Other
Tariff HSN
Description
Other
India’s Exports
FY 2024-25₹6,913 Cr
0.1867% of India’s total exports
India’s Imports
FY 2024-25₹22,239 Cr
0.3647% of India’s total imports
Trade Balance
FY 2024-25−₹15,326 Cr
Surplus rank #1172 of 1233 subchapters
% of Chapter 72
FY 2024-258.84%
Share of Chapter 72’s total exports in FY 2024-25
Import side: 15.12% of Chapter 72’s imports
Rank Within Chapter 72
FY 2024-25#4 of 29
Position by export value among subchapters in Chapter 72
Import-side rank: #2 of 29
At a glance
−11.13%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#101
National Export Rank
of 1233 subchapters by export value, FY 2024-25
+71.30%
Peak Growth Year
FY 2021-22 · strongest single-year move
8.84%
Contribution to Ch. 72
Share of Chapter 72 exports in FY 2024-25
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
+3,145.63
Exports
14,028.73 ₹ Cr
0.6112% share
— YoY
20.61% of Ch. 72
Imports
10,883.10 ₹ Cr
0.3031% share
— YoY
12.37% of Ch. 72
Balance
+8,496.17
Exports
17,085.39 ₹ Cr
0.7735% share
+21.79% YoY
25.98% of Ch. 72
Imports
8,589.22 ₹ Cr
0.2560% share
−21.08% YoY
11.32% of Ch. 72
Balance
+19,397.33
Exports
25,038.30 ₹ Cr
1.1641% share
+46.55% YoY
27.84% of Ch. 72
Imports
5,640.97 ₹ Cr
0.1936% share
−34.33% YoY
9.20% of Ch. 72
Balance
+35,869.56
Exports
42,890.86 ₹ Cr
1.3667% share
+71.30% YoY
25.14% of Ch. 72
Imports
7,021.30 ₹ Cr
0.1536% share
+24.47% YoY
7.47% of Ch. 72
Balance
+4,747.40
Exports
15,878.02 ₹ Cr
0.4385% share
−62.98% YoY
14.85% of Ch. 72
Imports
11,130.62 ₹ Cr
0.1936% share
+58.53% YoY
7.79% of Ch. 72
Balance
−1,780.85
Exports
18,808.13 ₹ Cr
0.5198% share
+18.45% YoY
19.17% of Ch. 72
Imports
20,588.98 ₹ Cr
0.3666% share
+84.98% YoY
13.33% of Ch. 72
Balance
−15,325.93
Exports
6,913.06 ₹ Cr
0.1867% share
−63.24% YoY
8.84% of Ch. 72
Imports
22,238.99 ₹ Cr
0.3647% share
+8.01% YoY
15.12% of Ch. 72
CAGR · 7-Year
Exports
−11.13% /yr
Imports
12.65% /yr
reference, FY 2024-25
Export
₹78,223.76 Cr
Import
₹1,47,109.35 Cr
Trade Balance
−68,885.59
India's exports under HSN Sub-Chapter 7208 have declined at a compound annual rate of −11.13% over 7 fiscal years, falling from ₹14,028.73 Crore in FY 2018-19 to ₹6,913.06 Crore in FY 2024-25.
In FY 2024-25, HSN Sub-Chapter 7208 ranks #101 out of 1233 subchapters by total export value. Within Chapter 72, it ranks #4 of 29. By trade surplus, it ranks #1172 of 1233.
The strongest single-year export movement for HSN Sub-Chapter 7208 was recorded in FY 2021-22, when exports surged by 71.30% over the prior year.
In FY 2024-25, India's imports of ₹22,238.99 Cr exceeded exports of ₹6,913.06 Cr, resulting in a trade deficit of ₹15,325.93 Crore — ranking #1172 of 1233 by surplus magnitude.
India's imports under HSN Sub-Chapter 7208 have grown at 12.65% CAGR, reaching ₹22,238.99 Crore in FY 2024-25.
Among the 29 subchapters under Chapter 72, HSN Sub-Chapter 7208 ranks #4 by export value — accounting for 8.84% of the chapter's total exports in FY 2024-25. On the import side, it holds 15.12% share (rank #2).
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Clear answers to common queries about HSN Sub Chapter 7208 and GST compliance.
It includes Hot-rolled iron & steel products
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.
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.
If your outward supply of Hot-rolled iron & steel products is taxable, ITC is generally available (Sections 16–17) except blocked credits (e.g., personal use, motor vehicles in most cases). For exempt supplies, proportionate reversal is required under Rule 42/43.
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.
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.