The HSN code 72091630 precisely identifies a specific category of flat-rolled steel products, primarily for purposes of customs and taxation, such as the Goods and Services Tax (GST).
Understanding HSN Code 72091630
The HSN (Harmonized System of Nomenclature) code 72091630 refers to highly specific steel products, detailing their material, form, processing, and dimensions. This detailed classification ensures uniformity in trade and tax regulations globally.
Specifically, HSN 72091630 categorizes:
- Product Type: Flat-rolled products.
- Material: Made of iron or non-alloy steel.
- Width: These products have a width of 600 mm or more.
- Processing: They are cold-rolled (also known as cold-reduced), meaning they have undergone processing at room temperature to achieve specific mechanical properties and surface finish.
- Surface Condition: The products are not clad, plated, or coated, indicating a bare metal finish.
- Form: They are supplied in coils and have not undergone any further processing beyond being cold-rolled (cold-reduced).
- Thickness: The thickness of these products ranges from exceeding 1 mm but being less than 3 mm.
- Specific Form: Within this thickness range, the product is categorized as 'strip'.
This detailed breakdown ensures that specific steel materials are accurately classified for trade, import/export duties, and domestic taxes.
Key Characteristics of HSN 72091630
For clarity, here's a breakdown of the defining characteristics of products falling under HSN 72091630:
| Characteristic | Description |
|---|---|
| Product Form | Flat-rolled products |
| Material Composition | Iron or non-alloy steel |
| Minimum Width | 600 mm or more |
| Processing Method | Cold-rolled (cold-reduced) |
| Surface Treatment | Not clad, plated, or coated |
| Packaging/Shape | In coils, not further worked than cold-rolled (cold-reduced) |
| Thickness Range | Exceeding 1 mm but less than 3 mm |
| Specific Type | Strip |
Importance and Applications
HSN codes are integral to international trade and national taxation systems. They streamline the process of customs clearance, trade statistics collection, and tax compliance by providing a universal system for classifying goods.
Products classified under HSN 72091630, being cold-rolled steel strips of specific dimensions, find applications in various industries:
- Automotive Industry: For components requiring high precision and smooth surface finish.
- Appliance Manufacturing: Used in the production of consumer electronics and home appliances.
- Construction: For certain structural elements or non-load-bearing components.
- General Engineering: For manufacturing various parts, profiles, and tubes.
HSN Code 72091630 and GST
In India, the HSN code 72091630 is crucial for determining the applicable Goods and Services Tax (GST) rate. Each HSN code is associated with a specific GST rate, which helps businesses, taxpayers, and government agencies identify the correct tax liability for goods. The detailed description linked to this HSN code ensures that the appropriate tax is levied on these particular types of flat-rolled steel products. Utilizing HSN codes simplifies the GST framework, promoting transparency and ease of doing business.
