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HSN Code - 73121020 : Stranded wire, ropes and cables (WIRE ROPES,GALVANISED)
| HSN CODE | Description | Policy |
|---|---|---|
| 7312 | STRANDED WIRE, ROPES, CABLES, PLAITED BANDS, SLINGS AND THE LIKE, OF IRON OR STEEL, NOT ELECTRICALLY INSULATED | |
| 731210 | Stranded wire, ropes and cables | |
| 73121020 | WIRE ROPES,GALVANISED | Free |
Harmonised System of Nomenclature (HSN Codes) 73121020 are used for the WIRE ROPES,GALVANISED 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 73121020
First two digits (73) represent the chapter number which is Chapter 73 - Articles of iron or steel
Next two digits (12) represent the heading number which is STRANDED WIRE, ROPES, CABLES, PLAITED BANDS, SLINGS AND THE LIKE, OF IRON OR STEEL, NOT ELECTRICALLY INSULATED
Next two digits (10) represent the product code which is Stranded wire, ropes and cables
Last two digits (20) are for final or deeper classification which is WIRE ROPES,GALVANISED
All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.
FAQs on HSN Code 73121020
What is HSN Code 73121020 used for?
HSN Code 73121020 is used to classify goods under GST for invoicing, taxation, import, and export. Businesses use this code to correctly identify products while filing GST returns and trade documents.
Is HSN Code 73121020 mandatory for GST invoices?
Yes. HSN codes are mandatory on GST invoices for most businesses, especially for B2B transactions, exports, and imports. The level of digits required depends on turnover and transaction type.
What is the GST rate for HSN Code 73121020?
The GST rate for HSN Code 73121020 depends on the product specification and the latest GST notifications. Businesses should verify the applicable rate from CBIC notifications or consult a tax professional before invoicing.
What is the import or export policy for HSN Code 73121020?
As per current trade policy, HSN Code 73121020 falls under "Free" category. Import or export may be subject to specific conditions or approvals.
What is the difference between HSN Code and SAC Code?
HSN codes are used for goods or products, while SAC codes are used for services. Businesses dealing in both goods and services must use the correct code type for GST compliance.