72031000Tariff Item (8-digit)Section XV

HSN Code 72031000 – Ferrous Products Obtained By Direct Reduction Of Iron Ore

Full GST classification for Ferrous Products Obtained By Direct Reduction Of Iron Ore — chapter, heading and tariff hierarchy, GST rate slabs and related HSN codes. Updated for India GST.

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HSN Code

72031000

Chapter

72

Digits

8-digit

Section

XV

What is HSN Code 72031000?

HSN code 72031000 is the Harmonized System of Nomenclature classification for Ferrous Products Obtained By Direct Reduction Of Iron Ore under India's Goods and Services Tax (GST). It is a 8-digit code sitting at the tariff item (8-digit) level of the HSN hierarchy.

This code belongs to Chapter 72 — Iron And Steel, which is part of Section XV: Base Metals & Articles Thereof. Every GST-registered business supplying ferrous products obtained by direct reduction of iron ore must quote HSN 72031000 (or the digit-length required for its turnover) on tax invoices and in GSTR-1.

Classification breakdown of 72031000

LevelCodeDescription
Chapter72iron and steel
Heading7203ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having minimum purity by weight of 99.94%, in lumps, pellets or similar forms
Sub-heading720310ferrous products obtained by direct reduction of iron ore
Tariff72031000ferrous products obtained by direct reduction of iron ore

GST rate for HSN 72031000

Goods under HSN 72031000 attract GST at one of the five standard slabs. The exact rate depends on the specific product and the latest GST Council notification — always confirm before invoicing.

0%

Nil / Exempt

Fresh produce, milk, cereals, books

5%

Merit rate

Essentials, packaged food, transport

12%

Standard-low

Processed food, mobiles, apparel > ₹1,000

18%

Standard

Most goods, electronics, services

28%

Demerit / luxury

Cars, cement, aerated drinks, tobacco

Find the exact GST rate for Ferrous Products Obtained By Direct Reduction Of Iron Ore →

HSN Code 72031000 — FAQs

What is HSN code 72031000?

HSN code 72031000 classifies "Ferrous Products Obtained By Direct Reduction Of Iron Ore" under India's GST regime. It falls under Chapter 72 (Iron And Steel) of the Harmonized System of Nomenclature.

How many digits is HSN code 72031000?

72031000 is a 8-digit HSN code — a tariff item (8-digit). Businesses declare 4-digit HSN (turnover up to ₹5 crore) or 6-digit HSN (above ₹5 crore) on GST invoices; 8-digit codes are used for exports and imports.

What is the GST rate for HSN code 72031000?

Goods under HSN 72031000 are taxed at one of the GST slabs — 0%, 5%, 12%, 18% or 28% — depending on the exact product and the latest GST Council notification. Use the Laabam.One GST Rate Finder to confirm the current rate for Ferrous Products Obtained By Direct Reduction Of Iron Ore.

Which chapter does HSN code 72031000 belong to?

HSN 72031000 belongs to Chapter 72 — Iron And Steel, part of Section XV: Base Metals & Articles Thereof.

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