--- title: "HSN Code for Sapphires, Rubies and Emeralds | HSN 71023100 GST Rate" description: "Find HSN and GST Rates for 71023100 related to Sapphires, Rubies and Emeralds with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-71023100/" --- # HSN Code 71023100: Sapphires, Rubies and Emeralds - [Section 14: Guide to HSN Section 14](https://busy.in/hsn/section-14/) - [Chapter 71: Natural Pearls & Metals](https://busy.in/hsn/chapter-71/) - [Sub-chapter 7102: Unworked Diamonds](https://busy.in/hsn/sub-chapter-7102/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Non-industrial : Unworked or simply sawn, cleaved or bruted | 0.125% | 0.125% | 0.25% | 0% | ## Frequently asked questions ### What products are classified under HSN 71023100 ? It includes Synthetic Precious Stones – Diamonds ### Does packaging or labelling change the GST for Sapphires, Rubies and Emeralds? 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. ### How should mixed supplies be billed when Sapphires, Rubies and Emeralds is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Sapphires, Rubies and Emeralds; Nil for exempt items if applicable). ### Do e‑way bill and e‑invoice apply for Sapphires, Rubies and Emeralds? 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. ### Can we claim ITC on inputs used to trade Sapphires, Rubies and Emeralds? 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 Sapphires, Rubies and Emeralds? Under HSN 71023100, Sapphires, Rubies and Emeralds attracts Varies when sold in taxable form. Describe the exact form on the invoice. ## India's trade performance: HSN Code 71023100 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹4,152 Cr (−44.36% YoY) — 0.1128% of India's total exports - Imports: ₹86,147 Cr (−25.43% YoY) — 1.4179% of India's total imports - Trade balance: −₹81,995 Cr (Deficit); surplus rank #12650 of 12657 HSN codes - Share of Sub-Chapter 7102: 3.57% of its exports; import side 62.85% - Rank within Sub-Chapter 7102: #2 of 8 by export value; import-side #1 ### Key metrics - Export CAGR: -12.87% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #119 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +110.11% in FY 2021-22 - Contribution to Sub-Ch. 7102: 3.57% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 71023100 7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB. | FY | Exports (₹ Cr) | Exp share | Exp YoY | Exp % of Sub-Ch. 7102 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 7102 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | 9,492.98 | 0.4155% | — | 5.40% | 1,09,183.20 | 3.0459% | — | 61.42% | −99,690.22 | #25 | | FY 2019-20 | 8,053.42 | 0.3659% | −15.16% | 5.75% | 89,844.81 | 2.6837% | −17.71% | 60.48% | −81,791.39 | #29 | | FY 2020-21 | 3,527.99 | 0.1640% | −56.19% | 2.80% | 78,631.48 | 2.6985% | −12.48% | 61.35% | −75,103.49 | #84 | | FY 2021-22 | 7,412.68 | 0.2362% | +110.11% | 3.92% | 1,37,871.34 | 3.0165% | +75.34% | 67.14% | −1,30,458.66 | #51 | | FY 2022-23 | 7,027.98 | 0.1941% | −5.19% | 3.83% | 1,35,787.60 | 2.3618% | −1.51% | 65.45% | −1,28,759.62 | #60 | | FY 2023-24 | 7,462.64 | 0.2063% | +6.18% | 5.35% | 1,15,525.96 | 2.0571% | −14.92% | 64.65% | −1,08,063.32 | #58 | | FY 2024-25 | 4,152.04 | 0.1128% | −44.36% | 3.57% | 86,146.81 | 1.4179% | −25.43% | 62.85% | −81,994.77 | #119 | - CAGR (7-year): exports -12.87%/yr, imports -3.87%/yr (consistently Deficit) ## Key trade insights: HSN Code 71023100 export-import analysis ### Export decline: -12.87% CAGR over 7 years India's exports under HSN Code 71023100 have declined at a compound annual rate of -12.87% over 7 fiscal years, falling from ₹9,492.98 Crore in FY 2018-19 to ₹4,152.04 Crore in FY 2024-25. ### HSN Code 71023100 ranked #119 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 71023100 ranks #119 out of 12657 HSN codes by total export value. Within Sub-Chapter 7102, it ranks #2 of 8. By trade surplus, it ranks #12650 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 71023100 exports The strongest single-year export movement for HSN Code 71023100 was recorded in FY 2021-22, when exports surged by 110.11% over the prior year. ### India records a trade deficit of ₹81,994.77 Crore in HSN Code 71023100 goods In FY 2024-25, India's imports of ₹86,146.81 Cr exceeded exports of ₹4,152.04 Cr, resulting in a trade deficit of ₹81,994.77 Crore — ranking #12650 of 12657 by surplus magnitude. ### Import growth of -3.87% CAGR signals stable import dependency for Sapphires, Rubies and Emeralds India's imports under HSN Code 71023100 have grown at -3.87% CAGR, reaching ₹86,146.81 Crore in FY 2024-25. ### HSN Code 71023100 contributes 3.57% of Sub-Chapter 7102 exports — ranked #2 Among the 8 HSN codes under Sub-Chapter 7102, HSN Code 71023100 ranks #2 by export value — accounting for 3.57% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 62.85% share (rank #1). ## Related HSN Codes in Sub-Chapter 7102 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 71023910: Cut or Worked Non-Industrial Diamonds](https://busy.in/hsn/hsn-71023910/) | ₹1,12,188 Cr | | #2 | HSN Code 71023100: Sapphires, Rubies and Emeralds (this hsn code) | ₹4,152 Cr | | #3 | [HSN Code 71022110: Diamonds – Unworked](https://busy.in/hsn/hsn-71022110/) | ₹33 Cr | | #4 | [HSN Code 71022120: Diamonds – Worked](https://busy.in/hsn/hsn-71022120/) | ₹14 Cr | | #5 | [HSN Code 71021000: Precious Stones (Not Elsewhere Specified)](https://busy.in/hsn/hsn-71021000/) | < ₹1 Crore | | #6 | [HSN Code 71023990: Other Precious or Semi-Precious Stones](https://busy.in/hsn/hsn-71023990/) | < ₹1 Crore | | #7 | [HSN Code 71022990: Other Precious Stones – Worked](https://busy.in/hsn/hsn-71022990/) | < ₹1 Crore | | — | [HSN Code 71022910: Other Precious Stones – Unworked](https://busy.in/hsn/hsn-71022910/) | Nil |