HSN Code 71021000 represents Precious Stones (Not Elsewhere Specified) under GST classification. This code helps businesses identify Precious Stones (Not Elsewhere Specified) correctly for billing, taxation, and trade. With HSN Code 71021000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Precious Stones (Not Elsewhere Specified).
Join our guided walkthrough to see how BUSY can transform your business operations.
HSN Code 71021000 relates to the following description.
Description of Goods
Unsorted
Chapter
71 - Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin
Sub Chapter
7102 - Diamonds, whether or not worked, but not mounted or set
CGST
0.125%
SGST
0.125%
IGST
0.25%
CESS
0%
Precious Stones (Not Elsewhere Specified) does not include products with the following descriptions.
Industrial : Unworked or simply sawn, cleaved or bruted: Sorted
Industrial : Unworked or simply sawn, cleaved or bruted: Unsorted
Industrial : Other : Crushed
Industrial : Other : Crushed (other than those specified in .125% rate entry )
Industrial : Other : Other
Industrial : Other : Other (other than those specified in .125% rate entry )
Non-industrial : Unworked or simply sawn, cleaved or bruted
Non-industrial : Others : Diamond, cut or otherwise worked but not mounted or set
Non-industrial : Others : Diamond, cut or otherwise worked but not mounted or set (other than those specified in .125% rate entry )
Non-industrial : Others : Other
Non-industrial : Others : Other (other than those specified in .125% rate entry )
Industrial : Unworked or simply sawn, cleaved or bruted: Sorted
Industrial : Unworked or simply sawn, cleaved or bruted: Unsorted
Industrial : Other : Crushed
Industrial : Other : Crushed (other than those specified in .125% rate entry )
Industrial : Other : Other
Industrial : Other : Other (other than those specified in .125% rate entry )
Non-industrial : Unworked or simply sawn, cleaved or bruted
Non-industrial : Others : Diamond, cut or otherwise worked but not mounted or set
Non-industrial : Others : Diamond, cut or otherwise worked but not mounted or set (other than those specified in .125% rate entry )
Non-industrial : Others : Other
Non-industrial : Others : Other (other than those specified in .125% rate entry )
India’s Exports
FY 2024-25< ₹1 Crore
0.0000% of India’s total exports
India’s Imports
FY 2024-25₹1,938 Cr
0.0319% of India’s total imports
Trade Balance
FY 2024-25−₹1,937 Cr
Surplus rank #12411 of 12657 HSN codes
% of Sub-Chapter 7102
FY 2024-250.00%
Share of Sub-Chapter 7102’s total exports in FY 2024-25
Import side: 1.41% of Sub-Chapter 7102’s imports
Rank Within Sub-Chapter 7102
FY 2024-25#5 of 8
Position by export value among HSN codes in Sub-Chapter 7102
Import-side rank: #3 of 8
At a glance
35.07%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#8383
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+1,62,714.29%
Peak Growth Year
FY 2019-20 · strongest single-year move
0.00%
Contribution to Sub-Ch. 7102
Share of Sub-Chapter 7102 exports in FY 2024-25
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−483.96
Exports
< ₹1 Crore ₹ Cr
0.0000% share
— YoY
0.00% of Sub-Ch. 7102
Imports
484.10 ₹ Cr
0.0135% share
— YoY
0.27% of Sub-Ch. 7102
Balance
−1,716.67
Exports
227.94 ₹ Cr
0.0104% share
+1,62,714.29% YoY
0.16% of Sub-Ch. 7102
Imports
1,944.61 ₹ Cr
0.0581% share
+301.70% YoY
1.31% of Sub-Ch. 7102
Balance
−860.83
Exports
107.82 ₹ Cr
0.0050% share
−52.70% YoY
0.09% of Sub-Ch. 7102
Imports
968.65 ₹ Cr
0.0332% share
−50.19% YoY
0.76% of Sub-Ch. 7102
Balance
−2,780.84
Exports
5.20 ₹ Cr
0.0002% share
−95.18% YoY
0.00% of Sub-Ch. 7102
Imports
2,786.04 ₹ Cr
0.0610% share
+187.62% YoY
1.36% of Sub-Ch. 7102
Balance
−1,494.43
Exports
Nil ₹ Cr
0.0000% share
−100.00% YoY
0.00% of Sub-Ch. 7102
Imports
1,494.43 ₹ Cr
0.0260% share
−46.36% YoY
0.72% of Sub-Ch. 7102
Balance
−1,426.62
Exports
4.41 ₹ Cr
0.0001% share
— YoY
0.00% of Sub-Ch. 7102
Imports
1,431.03 ₹ Cr
0.0255% share
−4.24% YoY
0.80% of Sub-Ch. 7102
Balance
−1,937.11
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−80.73% YoY
0.00% of Sub-Ch. 7102
Imports
1,937.96 ₹ Cr
0.0319% share
+35.42% YoY
1.41% of Sub-Ch. 7102
CAGR · 7-Year
Exports
35.07% /yr
Imports
26.01% /yr
reference, FY 2024-25
Export
₹1,16,388.01 Cr
Import
₹1,37,056.97 Cr
Trade Balance
−20,668.96
India's exports under HSN Code 71021000 have grown at a compound annual rate of 35.07% over 7 fiscal years, rising from ₹0.14 Crore in FY 2018-19 to ₹0.85 Crore in FY 2024-25.
In FY 2024-25, HSN Code 71021000 ranks #8383 out of 12657 HSN codes by total export value. Within Sub-Chapter 7102, it ranks #5 of 8. By trade surplus, it ranks #12411 of 12657.
The strongest single-year export movement for HSN Code 71021000 was recorded in FY 2019-20, when exports surged by 1,62,714.29% over the prior year.
In FY 2024-25, India's imports of ₹1,937.96 Cr exceeded exports of ₹0.85 Cr, resulting in a trade deficit of ₹1,937.11 Crore — ranking #12411 of 12657 by surplus magnitude.
India's imports under HSN Code 71021000 have grown at 26.01% CAGR, reaching ₹1,937.96 Crore in FY 2024-25.
Among the 8 HSN codes under Sub-Chapter 7102, HSN Code 71021000 ranks #5 by export value — accounting for 0.00% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 1.41% share (rank #3).
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Clear answers to common queries about HSN Code 71021000 and GST compliance.
It includes Other Precious Stones – Unworked
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.
Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.
Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Precious Stones (Not Elsewhere Specified); Nil for exempt items if applicable).
Under HSN 71021000, Precious Stones (Not Elsewhere Specified) attracts Varies when sold in taxable form. Describe the exact form on the invoice.
If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.
e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.