HSN Codes chevron_right Section 15 chevron_right Chapter 73 chevron_right Sub Chapter 7316

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7316 HSN Code: Anchors, Grapnels & Parts (Iron/Steel)

HSN Sub Chapter 7316 represents Anchors, Grapnels & Parts (Iron/Steel) under GST classification. This code helps businesses identify Anchors, Grapnels & Parts (Iron/Steel) correctly for billing, taxation, and trade. With HSN Sub Chapter 7316, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Anchors, Grapnels & Parts (Iron/Steel).

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New GST Rate for HSN Code 7316

GST Rate for Anchors, Grapnels & Parts (Iron/Steel) under HSN Code 7316. Understand Current Tax Rates, Exemptions, and Legal Classifications to Ensure Accurate Billing and GST Filing.

Chapter No HSN Code HSN Description New GST Rate Old GST Rate
73 7316 Anchors, grapnels and parts thereof, of iron or steel 18% 18%

Chapter: 73

Description: Anchors, grapnels and parts thereof, of iron or steel

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

Tariff HSN Codes under HSN Sub Chapter 7316

Following Tariff HSN code falls under Anchors, Grapnels & Parts (Iron/Steel):

Tariff HSN Description
Anchors, grapnels and parts thereof, of iron or steel : Anchors and grapnels
Anchors, grapnels and parts thereof, of iron or steel : Anchors and grapnels
Anchors, grapnels and parts thereof, of iron or steel : Parts
Anchors, grapnels and parts thereof, of iron or steel : Parts

Anchors, grapnels and parts thereof, of iron or steel : Anchors and grapnels

Anchors, grapnels and parts thereof, of iron or steel : Anchors and grapnels

Anchors, grapnels and parts thereof, of iron or steel : Parts

Anchors, grapnels and parts thereof, of iron or steel : Parts

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Case Laws Related to Sub Chapter 7316

Order Number Description
Air Control And Chemical Engineering Co. Ltd (AAR (Authority For Advance Ruling), Gujarat)
M/S. Bharat Electronics Limited (AAR (Authority For Advance Ruling), Karnataka)

Air Control And Chemical Engineering Co. Ltd (AAR (Authority For Advance Ruling), Gujarat)

M/S. Bharat Electronics Limited (AAR (Authority For Advance Ruling), Karnataka)

FAQs for Sub Chapter 7316

What products are classified under HSN 7316

It includes Anchors, Grapnels & Parts (Iron/Steel)

Can reverse charge ever apply to transactions involving Anchors, Grapnels & Parts (Iron/Steel)?

Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Anchors, Grapnels & Parts (Iron/Steel) are forward charge. Check the current notifications for any special cases before deciding.

How are warranty replacements of Anchors, Grapnels & Parts (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.

Does packaging or branding change how GST applies to Anchors, Grapnels & Parts (Iron/Steel)?

Yes. Many food/agri goods are treated differently when sold as pre‑packaged & labelled retail packs versus loose/open packs. If Anchors, Grapnels & Parts (Iron/Steel) is sold in small pouches (e.g., 500 g) with an MRP and label, record that on the invoice. Loose bulk bags often follow a different treatment.

If I repair and return Anchors, Grapnels & Parts (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.

Is the composition scheme suitable if I mainly trade Anchors, Grapnels & Parts (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.

What misclassification mistakes happen with Anchors, Grapnels & Parts (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.

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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