7320 HSN Code: Springs & leaves of iron or steel

HSN Sub Chapter 7320 represents Springs & leaves of iron or steel under GST classification. This code helps businesses identify Springs & leaves of iron or steel correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7320, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Springs & leaves of iron or steel.

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New GST Rate for HSN Code 7320

GST Rate for Springs & leaves of iron or steel under HSN Code 7320. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

73

HSN Code

7320

HSN Description

Springs and leaves for springs, of iron or steel

New GST Rate

18 %
Standard

Old GST Rate

18 %

Tariff HSN Codes under HSN Sub Chapter 7320

Following tariff HSN codes fall under Springs & leaves of iron or steel.

Tariff HSN

73201011

Description

Leaf-springs and leaves therefor : Leaf-springs : For motor vehicles

Tariff HSN

73201012

Description

Leaf-springs and leaves therefor : Leaf-springs : For railways and tramways

Tariff HSN

73201019

Description

Leaf-springs and leaves therefor : Leaf-springs : Other

Tariff HSN

73201020

Description

Leaf-springs and leaves therefor : Leaves for springs

Tariff HSN

73202000

Description

Helical springs

Tariff HSN

73209010

Description

Other : Coil spring for railways, tramways

Tariff HSN

73209020

Description

Other : Spring pins

Tariff HSN

73209090

Description

Other : Other

India’s Trade Performance — HSN Sub-Chapter 7320 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

₹1,004 Cr

+35.01% vs FY 2023-24

0.0271% of India’s total exports

India’s Imports

FY 2024-25

₹1,330 Cr

+8.75% vs FY 2023-24

0.0218% of India’s total imports

Trade Balance

FY 2024-25

−₹326 Cr

Trade Deficit

Surplus rank #827 of 1233 subchapters

% of Chapter 73

FY 2024-25

1.17%

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

Import side: 2.99% of Chapter 73’s imports

Rank Within Chapter 73

FY 2024-25

#13 of 26

Position by export value among subchapters in Chapter 73

Import-side rank: #8 of 26

At a glance

13.74%

Export CAGR

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

#388

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+37.76%

Peak Growth Year

FY 2021-22 · strongest single-year move

1.17%

Contribution to Ch. 73

Share of Chapter 73 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7320

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 #437

Balance

−458.53

Exports

463.93 ₹ Cr

0.0202% share

— YoY

0.91% of Ch. 73

Imports

922.46 ₹ Cr

0.0257% share

— YoY

2.59% of Ch. 73

FY 2019-20 Exp. Rank #444

Balance

−428.50

Exports

427.90 ₹ Cr

0.0194% share

−7.77% YoY

0.86% of Ch. 73

Imports

856.40 ₹ Cr

0.0255% share

−7.16% YoY

2.60% of Ch. 73

FY 2020-21 Exp. Rank #421

Balance

−327.01

Exports

515.16 ₹ Cr

0.0240% share

+20.39% YoY

1.06% of Ch. 73

Imports

842.17 ₹ Cr

0.0289% share

−1.66% YoY

3.01% of Ch. 73

FY 2021-22 Exp. Rank #409

Balance

−252.57

Exports

709.69 ₹ Cr

0.0226% share

+37.76% YoY

1.08% of Ch. 73

Imports

962.26 ₹ Cr

0.0211% share

+14.26% YoY

2.74% of Ch. 73

FY 2022-23 Exp. Rank #440

Balance

−502.82

Exports

683.29 ₹ Cr

0.0189% share

−3.72% YoY

0.87% of Ch. 73

Imports

1,186.11 ₹ Cr

0.0206% share

+23.26% YoY

3.08% of Ch. 73

FY 2023-24 Exp. Rank #434

Balance

−479.20

Exports

743.78 ₹ Cr

0.0206% share

+8.85% YoY

0.90% of Ch. 73

Imports

1,222.98 ₹ Cr

0.0218% share

+3.11% YoY

2.89% of Ch. 73

FY 2024-25 Exp. Rank #388

Balance

−325.72

Exports

1,004.21 ₹ Cr

0.0271% share

+35.01% YoY

1.17% of Ch. 73

Imports

1,329.93 ₹ Cr

0.0218% share

+8.75% YoY

2.99% of Ch. 73

CAGR · 7-Year

Exports

13.74% /yr

Imports

6.29% /yr

Consistently Deficit
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 7320 Export-Import Analysis

Consistent Export Growth: 13.74% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7320 have grown at a compound annual rate of 13.74% over 7 fiscal years, rising from ₹463.93 Crore in FY 2018-19 to ₹1,004.21 Crore in FY 2024-25.

HSN Sub-Chapter 7320 Ranked #388 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7320 ranks #388 out of 1233 subchapters by total export value. Within Chapter 73, it ranks #13 of 26. By trade surplus, it ranks #827 of 1233.

FY 2021-22 Was the Strongest Growth Year for HSN Sub-Chapter 7320 Exports

The strongest single-year export movement for HSN Sub-Chapter 7320 was recorded in FY 2021-22, when exports surged by 37.76% over the prior year.

India Records a Trade Deficit of ₹325.72 Crore in HSN Sub-Chapter 7320 Goods

In FY 2024-25, India's imports of ₹1,329.93 Cr exceeded exports of ₹1,004.21 Cr, resulting in a trade deficit of ₹325.72 Crore — ranking #827 of 1233 by surplus magnitude.

Import Growth of 6.29% CAGR Signals Stable Import Dependency for Springs & leaves of iron or steel

India's imports under HSN Sub-Chapter 7320 have grown at 6.29% CAGR, reaching ₹1,329.93 Crore in FY 2024-25.

HSN Sub-Chapter 7320 Contributes 1.17% of Chapter 73 Exports — Ranked #13

Among the 26 subchapters under Chapter 73, HSN Sub-Chapter 7320 ranks #13 by export value — accounting for 1.17% of the chapter's total exports in FY 2024-25. On the import side, it holds 2.99% share (rank #8).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7320 and GST compliance.

What products are classified under HSN 7320

It includes Springs & leaves of iron or steel

How do I bill a kit or combo that includes Springs & leaves of iron or steel?

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.

How are warranty replacements of Springs & leaves of iron or 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.

Can I claim ITC on inputs and services used for Springs & leaves of iron or steel?

If your outward supply of Springs & leaves of iron or steel 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.

Any import/export nuance for Springs & leaves of iron or steel?

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.

How should I document Springs & leaves of iron or steel sent for job work?

Use a delivery challan for sending Springs & leaves of iron or steel to the job worker. Declare movement in your records and reconcile when the goods return. If the job worker raises a service invoice, classify it under SAC; your goods remain under the original HSN.

Does MRP, weight or pack size change GST treatment for Springs & leaves of iron or steel?

Some entries use MRP/weight‑based conditions for classification. Keep pack size, retail marking and brand status on records and invoice to support the chosen HSN.

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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