GST Rates for Iron & Steel Products in India  

Iron and steel are the backbone of India’s construction, infrastructure, and manufacturing sectors. Under the Goods and Services Tax (GST) framework, most iron and steel products — from raw materials like pig iron and ferro alloys to finished goods such as TMT bars, pipes, and structural components — are taxed at a standard 18% GST rate. The applicable HSN codes (Chapter 72 & 73) help classify these products for accurate billing and Input Tax Credit (ITC) claims.

Latest GST Updates from the 56th GST Council Meeting 

The 56th GST Council meeting has recommended a reduction in GST rates on several iron and steel items:

• Kerosene burners, stoves and wood-burning stoves made of iron or steel – reduced from 12% to 5%.
• Kitchen or household articles and utensils made of iron or steel – reduced from 12% to 5%.
• Milk cans made of iron, steel or aluminium – reduced from 12% to 5%.
• Handicraft art ware made of iron – reduced from 12% to 5%.

*These recommendations are awaiting official CBIC notification before they come into effect.

18% GST Rate for Iron and Steel

 All iron and steel products under Chapter 72 of the HSN Code is taxed at 18% GST.  

• Pig iron and spiegeleisen in pigs, blocks or other primary forms
• Ferroalloys.
• Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99.94%, in lumps, pellets or similar forms
• Ferrous waste and scrap; remelting scrap ingots of iron or steel.
• Granules and powders, of pig iron, spiegeleisen, iron or steel.
• Iron and non-alloy steel in ingots or other primary forms (excluding iron of heading 7203 of HSN Code).
• Semifinished products of iron or non-alloy steel.
• Flatrolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated.
• All the flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, cold-rolled (cold reduced), not clad, plated or coated.
• Flatrolled products of iron or non-alloy steel, of a width of 600 mm or more, clad, plated or coated.
• All the flat-rolled products of iron or non-alloy steel, of a width of less than 600 mm, not clad, plated or coated.
• Flatrolled products of iron or non-alloy steel, of a width of less than 600 mm, clad, plated or coated.
• Bars and rods, hot-rolled, in irregularly wound coils, of iron or nonalloy steel.
• Other bars and rods of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot extruded, but including those twisted after rolling.
• Other bars and rods of iron or non-alloy steel.
• Angles, shapes and sections of iron or non-alloy steel
• Wire of iron or non-alloy steel.
• Stainless steel in ingots or other primary forms; semifinished products of stainless steel
• Flatrolled products of stainless steel, of a width of 600 mm or more
• Flatrolled products of stainless steel, of a width of less than 600 mm not further worked than hot-rolled
• Bars and rods, hot-rolled, in irregularly wound coils, of stainless steel.
• Other bars and rods of stainless steel; angles, shapes and sections of stainless steel
• Wire of stainless steel.
• Other alloy steel in ingots or other primary forms; semifinished products of other alloy steel
• Flatrolled products of other alloy steel, of a width of 600 mm or more of silicon electrical steel
• Flatrolled products of other alloy steel, of a width of less than 600 mm.
• Bars and rods, hot-rolled, in irregularly wound coils, of other alloy steel.
• Other bars and rods of other alloy steel; angles, shapes and sections, of other alloy steel; hollow drill bars and rods, of alloy or nonalloy steel
• Wire of other alloy steel.

 It is important to note that articles of iron and steel are taxed differently under GST at different rates. You can 1 here.  

HSN Codes & GST Rates for Iron and Steel Products in India

Most iron and steel products attract 18% GST, including raw materials, structural items, and finished goods such as TMT bars, steel plates, and sheets. Some specialised products or steel scrap may have specific provisions, but the majority follow the standard rate.

The HSN code for iron and steel is 72, with various subcategories based on the product type. Below is a quick reference table:

Always verify the correct HSN code while filing GST returns to ensure proper tax compliance and avoid penalties.

Stay updated and stay compliant! Confused about the right GST rate for your products or services? Our experts can guide you on the correct GST rates, filing & registration.