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.
