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Chapter 71 – HSN Code & GST Rate for Precious Metals, Stones, and Imitation Jewellery

Chapter 71 of the Harmonized System of Nomenclature (HSN) covers a diverse range of products including natural or cultured pearls, precious metals, semi-precious stones, imitation jewellery, and coins. Understanding the HSN codes and GST rates applicable to these items is essential for businesses in the jewellery and precious metals industry. Here are the details:

Products Description HSN Codes Export & Import HSN Codes GST Rate
Natural or cultured pearls, precious or semi-precious stones 7101 7101 3%
Diamonds (whether or not worked but not mounted or set) 7102 7102 0.25%
Silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form 7106 7106 3%
Gold (including gold plated with platinum), unwrought or in semi-manufactured forms, or in powder form 7108 7108 3%
Imitation jewellery, fashion jewellery, artificial jewellery, and related articles made of base metals, metals clad with precious metals 7117 7117 3%
Coin (other than gold coin, silver coin, legal tender, commemorative coins) 7118 7118 18%

Chapter 71 encompasses items ranging from precious metals like gold and silver to natural pearls, diamonds, and imitation jewellery. Accurate classification under the relevant HSN codes ensures proper taxation and compliance with GST regulations.

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