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 purposes. 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

73

HSN Code

7316

HSN Description

Anchors, grapnels and parts thereof, of iron or steel

New GST Rate

18 %
Standard

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 7316

Following tariff HSN codes fall under Anchors, Grapnels & Parts (Iron/Steel).

Tariff HSN

73160010

Description

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

Tariff HSN

73160090

Description

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

India’s Trade Performance — HSN Sub-Chapter 7316 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

₹60 Cr

−74.85% vs FY 2023-24

0.0016% of India’s total exports

India’s Imports

FY 2024-25

₹20 Cr

−4.19% vs FY 2023-24

0.0003% of India’s total imports

Trade Balance

FY 2024-25

₹39 Cr

Trade Surplus

Surplus rank #441 of 1233 subchapters

% of Chapter 73

FY 2024-25

0.07%

Share of Chapter 73’s total exports in FY 2024-25

Import side: 0.05% of Chapter 73’s imports

Rank Within Chapter 73

FY 2024-25

#24 of 26

Position by export value among subchapters in Chapter 73

Import-side rank: #24 of 26

At a glance

11.61%

Export CAGR

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

#889

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+148.69%

Peak Growth Year

FY 2020-21 · strongest single-year move

0.07%

Contribution to Ch. 73

Share of Chapter 73 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7316

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 #897

Balance

+3.86

Exports

30.93 ₹ Cr

0.0013% share

— YoY

0.06% of Ch. 73

Imports

27.07 ₹ Cr

0.0008% share

— YoY

0.08% of Ch. 73

FY 2019-20 Exp. Rank #820

Balance

+42.86

Exports

56.89 ₹ Cr

0.0026% share

+83.93% YoY

0.11% of Ch. 73

Imports

14.03 ₹ Cr

0.0004% share

−48.17% YoY

0.04% of Ch. 73

FY 2020-21 Exp. Rank #665

Balance

+124.41

Exports

141.48 ₹ Cr

0.0066% share

+148.69% YoY

0.29% of Ch. 73

Imports

17.07 ₹ Cr

0.0006% share

+21.67% YoY

0.06% of Ch. 73

FY 2021-22 Exp. Rank #639

Balance

+217.80

Exports

230.57 ₹ Cr

0.0073% share

+62.97% YoY

0.35% of Ch. 73

Imports

12.77 ₹ Cr

0.0003% share

−25.19% YoY

0.04% of Ch. 73

FY 2022-23 Exp. Rank #639

Balance

+237.70

Exports

260.51 ₹ Cr

0.0072% share

+12.99% YoY

0.33% of Ch. 73

Imports

22.81 ₹ Cr

0.0004% share

+78.62% YoY

0.06% of Ch. 73

FY 2023-24 Exp. Rank #658

Balance

+216.39

Exports

237.62 ₹ Cr

0.0066% share

−8.79% YoY

0.29% of Ch. 73

Imports

21.23 ₹ Cr

0.0004% share

−6.93% YoY

0.05% of Ch. 73

FY 2024-25 Exp. Rank #889

Balance

+39.43

Exports

59.77 ₹ Cr

0.0016% share

−74.85% YoY

0.07% of Ch. 73

Imports

20.34 ₹ Cr

0.0003% share

−4.19% YoY

0.05% of Ch. 73

CAGR · 7-Year

Exports

11.61% /yr

Imports

−4.65% /yr

Consistently Surplus
Chapter 73 total

reference, FY 2024-25

Export

₹86,156.43 Cr

Import

₹44,501.24 Cr

Trade Balance

+41,655.19

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Sub-Chapter 7316 Export-Import Analysis

Consistent Export Growth: 11.61% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7316 have grown at a compound annual rate of 11.61% over 7 fiscal years, rising from ₹30.93 Crore in FY 2018-19 to ₹59.77 Crore in FY 2024-25.

HSN Sub-Chapter 7316 Ranked #889 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7316 ranks #889 out of 1233 subchapters by total export value. Within Chapter 73, it ranks #24 of 26. By trade surplus, it ranks #441 of 1233.

FY 2020-21 Was the Strongest Growth Year for HSN Sub-Chapter 7316 Exports

The strongest single-year export movement for HSN Sub-Chapter 7316 was recorded in FY 2020-21, when exports surged by 148.69% over the prior year.

India Maintains a Trade Surplus of ₹39.43 Crore in HSN Sub-Chapter 7316 Goods

In FY 2024-25, India's exports of ₹59.77 Cr exceeded imports of ₹20.34 Cr, resulting in a trade surplus of ₹39.43 Crore — ranking #441 of 1233 by surplus magnitude.

Import Growth of −4.65% CAGR Signals Stable Import Dependency for Anchors, Grapnels & Parts (Iron/Steel)

India's imports under HSN Sub-Chapter 7316 have grown at −4.65% CAGR, reaching ₹20.34 Crore in FY 2024-25.

HSN Sub-Chapter 7316 Contributes 0.07% of Chapter 73 Exports — Ranked #24

Among the 26 subchapters under Chapter 73, HSN Sub-Chapter 7316 ranks #24 by export value — accounting for 0.07% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.05% share (rank #24).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7316 and GST compliance.

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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