7222
OTHER BARS AND RODS OF STAINLESS STEEL, ANGLES, SHAPES AND SECTIONS OF STAINLESS STEEL
Tax Calculator for 7222
E-Way Bill Rules
For other bars and rods of stainless steel, angles, shapes and sections of stainless steel, the E-Way Bill threshold is ₹50,000. Since the rate is 18%, you must generate a bill if the Taxable Value exceeds ₹42,372.
Example Calculation
- Base Value: ₹42,372
- + GST (18%): ₹7,626.96
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 7222 falls under Chapter 72. It is mandatory to mention this code on invoices if your annual turnover exceeds ₹5 Crore. For turnover below ₹5 Crore, mentioning the 4-digit code (7222) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of other bars and rods of stainless steel, angles, shapes and sections of stainless steel. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 7222?
The GST rate for HSN Code 7222 (OTHER BARS AND RODS OF STAINLESS STEEL, ANGLES, SHAPES AND SECTIONS OF STAINLESS STEEL) is 18%.
Q: Is HSN 7222 eligible for Input Tax Credit (ITC)?
ITC availability is classified as 'eligible'. Generally, businesses can claim ITC unless used for personal consumption or blocked under Section 17(5).
Q: How to calculate GST amount for OTHER BARS AND RODS OF STAINLESS STEEL, ANGLES, SHAPES AND SECTIONS OF STAINLESS STEEL?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.