Official Classification

Under the Harmonized System of Nomenclature (HSN), the code 7203 specifically identifies ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron for the purpose of taxation and trade in Bharat. This ensures uniform classification across all Indian states and Union Territories.

Intra-State Split

CGST 9% + SGST 9%

Inter-State Split

IGST 18%

Compliance Check-list

✓Mention HSN 7203 on all Tax Invoices for ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron
✓Include in HSN-wise summary of GSTR-1 filings
✓Mandatory for E-way bill generation for goods above threshold
✓Ensure Input Tax Credit (ITC) matches this classification

✨ AI Compliance Insight

Expert Advice for 7203

"Classifying ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron correctly is critical to avoid litigation. While the base rate is 18%, always check for anti-dumping duties if importing, especially under the Iron & Steel category. AasanKhata automatically monitors these shifts for you."