HS code is classified under chapter 72 (Iron and steel) of ITC (Indian Tariff Code). Chapter 72 is classified under Section 15 (BASE METAL & ARTICLES OF BASE METAL). You can check GST tax rate on 720450.
First 2 digits, (72) represents chapter number.
This chapter is for Iron and steel.
4 digit HSN code for FERROUS WASTE AND SCRAP; REMELTING SCRAP INGOTS OF IRON OR STEEL
Next 2 digits, (04) represents heading number.
This heading is for FERROUS WASTE AND SCRAP; REMELTING SCRAP INGOTS OF IRON OR STEEL.
6 digit HSN code for Other waste and scrap
Next 2 digits, (50) represents item or product.
This code is for Other waste and scrap.
8 digit HSN code for Remelting scrap ingots
Last 2 digits, (00) represents specific item or product at micro level.
This code is for Remelting scrap ingots.
We have filtered GST applicable on Iron and steel including GST on FERROUS WASTE AND SCRAP; REMELTING SCRAP INGOTS OF IRON OR STEEL, GST on Other waste and scrap, GST on Remelting scrap ingots. You can GST on chapter 72 by visiting this link.