HSN CODE - 72042920 : WASTE AND SCRAP OF HIGH SPEED STEEL

Harmonised System of Nomenclature (HSN Codes) 72042920 are used for the WASTE AND SCRAP OF HIGH SPEED STEEL products under Goods and Service Tax classification.

India was originally using 6 digit HSN codes to classify commodities but later two more digits were added to make the codes more precise, resulting in an 8 digit classification.

Understanding HSN Code 72042920

First two digits (72) represent the chapter number which is Chapter 72 - Iron and steel

Next two digits (04) represent the heading number which is FERROUS WASTE AND SCRAP; REMELTING SCRAP INGOTS OF IRON OR STEEL

Next two digits (29) represent the product code which is Other

Last two digits (20) are for final or deeper classification which is WASTE AND SCRAP OF HIGH SPEED STEEL

All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.