The HSN (Harmonized System of Nomenclature) code for old machine scrap, which generally falls under the category of "Ferrous waste and scrap; remelting scrap ingots of iron or steel," is as follows:
HSN Code for Old Machine Scrap:
- HSN Code 7204: This code covers ferrous waste and scrap; remelting scrap ingots of iron or steel.
Detailed Breakdown:
- 7204.10: Waste and scrap of cast iron
- 7204.21: Waste and scrap of stainless steel
- 7204.29: Other waste and scrap of alloy steel
- 7204.30: Waste and scrap of tinned iron or steel
- 7204.41: Turnings, shavings, chips, milling waste, sawdust, filings, trimmings, and stampings, whether or not in bundles
- 7204.49: Other ferrous waste and scrap
GST Rate for Old Machine Scrap:
The GST rate for goods classified under HSN code 7204, including old machine scrap, is generally 18%.
Key Points:
- HSN Code: 7204 (Old machine scrap, ferrous waste, and scrap)
- GST Rate: 18%
