HSN Code 28431020: Colloidal precious metals: Silver

HSN Code 28431020 represents Colloidal precious metals: Silver under GST classification. This code helps businesses identify Colloidal precious metals: Silver correctly for billing, taxation, and trade. With HSN Code 28431020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Colloidal precious metals: Silver.

Live Demo Available Today

Experience the power of Expert Accounting

Join our guided walkthrough to see how BUSY can transform your business operations.

Trusted by 6,00,000+ Users
4.6 Google Rating
+91
expand_more

* No credit card required

Description of Goods for HSN Code 28431020

HSN Code 28431020 relates to the following description.

Description of Goods

MISCELLANEOUS : Colloidal precious metals : Of silver

Chapter

28 - Inorganic chemicals, organic or inorganic compounds of precious metals,of rare-earth metals, of radioactive elements or of isotopes

Sub Chapter

2843 - Colloidal precious metals; inorganic or organic compounds of precious metals,whether or not chemically defined; amalgams of precious metals

CGST

9%

SGST

9%

IGST

18%

CESS

0%

What does HSN Code 28431020 not include?

Colloidal precious metals: Silver does not include products with the following descriptions.

HSN Code 28439011

MISCELLANEOUS : Other compounds; amalgams : Other compounds : Sodium aurous thiosulphate

HSN Code 28439012

MISCELLANEOUS : Other compounds; amalgams : Other compounds : Noble metal solutions of platinum, rhodium and palladium

India’s Trade Performance — HSN Code 28431020 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

< ₹1 Crore

−17.65% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

₹5 Cr

−55.63% vs FY 2023-24

0.0001% of India’s total imports

Trade Balance

FY 2024-25

−₹5 Cr

Trade Deficit

Surplus rank #8567 of 12657 HSN codes

% of Sub-Chapter 2843

FY 2024-25

0.05%

Share of Sub-Chapter 2843’s total exports in FY 2024-25

Import side: 0.02% of Sub-Chapter 2843’s imports

Rank Within Sub-Chapter 2843

FY 2024-25

#7 of 10

Position by export value among HSN codes in Sub-Chapter 2843

Import-side rank: #8 of 10

At a glance

−18.56%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#9607

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+25.00%

Peak Growth Year

FY 2019-20 · strongest single-year move

0.05%

Contribution to Sub-Ch. 2843

Share of Sub-Chapter 2843 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 28431020

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #8208

Balance

+0.31

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.09% of Sub-Ch. 2843

Imports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.01% of Sub-Ch. 2843

FY 2019-20 Exp. Rank #8058

Balance

+0.48

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+25.00% YoY

0.08% of Sub-Ch. 2843

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−29.41% YoY

0.00% of Sub-Ch. 2843

FY 2020-21 Exp. Rank #8300

Balance

−0.91

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−23.33% YoY

0.10% of Sub-Ch. 2843

Imports

1.37 ₹ Cr

0.0000% share

+1,041.67% YoY

0.01% of Sub-Ch. 2843

FY 2021-22 Exp. Rank #8620

Balance

−40.49

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+2.17% YoY

0.25% of Sub-Ch. 2843

Imports

40.96 ₹ Cr

0.0009% share

+2,889.78% YoY

0.30% of Sub-Ch. 2843

FY 2022-23 Exp. Rank #9481

Balance

−19.93

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−70.21% YoY

0.04% of Sub-Ch. 2843

Imports

20.07 ₹ Cr

0.0003% share

−51.00% YoY

0.12% of Sub-Ch. 2843

FY 2023-24 Exp. Rank #9527

Balance

−10.40

Exports

< ₹1 Crore ₹ Cr

0.0000% share

+21.43% YoY

0.02% of Sub-Ch. 2843

Imports

10.57 ₹ Cr

0.0002% share

−47.33% YoY

0.08% of Sub-Ch. 2843

FY 2024-25 Exp. Rank #9607

Balance

−4.55

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−17.65% YoY

0.05% of Sub-Ch. 2843

Imports

4.69 ₹ Cr

0.0001% share

−55.63% YoY

0.02% of Sub-Ch. 2843

CAGR · 7-Year

Exports

−18.56% /yr

Imports

73.83% /yr

Consistently Deficit
Sub-Chapter 2843 total

reference, FY 2024-25

Export

₹259.55 Cr

Import

₹29,829.96 Cr

Trade Balance

−29,570.41

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Code 28431020 Export-Import Analysis

Export Decline: −18.56% CAGR Over 7 Years

India's exports under HSN Code 28431020 have declined at a compound annual rate of −18.56% over 7 fiscal years, falling from ₹0.48 Crore in FY 2018-19 to ₹0.14 Crore in FY 2024-25.

HSN Code 28431020 Ranked #9607 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 28431020 ranks #9607 out of 12657 HSN codes by total export value. Within Sub-Chapter 2843, it ranks #7 of 10. By trade surplus, it ranks #8567 of 12657.

FY 2019-20 Was the Strongest Growth Year for HSN Code 28431020 Exports

The strongest single-year export movement for HSN Code 28431020 was recorded in FY 2019-20, when exports surged by 25.00% over the prior year.

India Records a Trade Deficit of ₹4.55 Crore in HSN Code 28431020 Goods

In FY 2024-25, India's imports of ₹4.69 Cr exceeded exports of ₹0.14 Cr, resulting in a trade deficit of ₹4.55 Crore — ranking #8567 of 12657 by surplus magnitude.

Import Growth of 73.83% CAGR Signals Rising Demand for Colloidal precious metals: Silver

India's imports under HSN Code 28431020 have grown at 73.83% CAGR, reaching ₹4.69 Crore in FY 2024-25.

HSN Code 28431020 Contributes 0.05% of Sub-Chapter 2843 Exports — Ranked #7

Among the 10 HSN codes under Sub-Chapter 2843, HSN Code 28431020 ranks #7 by export value — accounting for 0.05% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.02% share (rank #8).

Stop worrying about HSN & TAX compliance

BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.

Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
+91
expand_more

* No credit card required

Frequently Asked Questions

Clear answers to common queries about HSN Code 28431020 and GST compliance.

What products are classified under HSN 28431020 ?

It includes Colloidal precious metals: Silver

Does packaging or labelling change the GST for Colloidal precious metals: Silver?

For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading.

Can we claim ITC on inputs used to trade Colloidal precious metals: Silver?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

How much GST applies to Colloidal precious metals: Silver?

Under HSN 28431020, Colloidal precious metals: Silver attracts Varies when sold in taxable form. Describe the exact form on the invoice.

How should mixed supplies be billed when Colloidal precious metals: Silver is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Colloidal precious metals: Silver; Nil for exempt items if applicable).

Any common misclassification issue with Colloidal precious metals: Silver?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

Important Disclaimer

The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.