--- title: "HSN Code for Cut or Worked Non-Industrial Diamonds | HSN 71023910 GST Rate" description: "Find HSN and GST Rates for 71023910 related to Cut or Worked Non-Industrial Diamonds with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-71023910/" --- # HSN Code 71023910: Cut or Worked Non-Industrial Diamonds - [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 : Others : Diamond, cut or otherwise worked but not mounted or set | 0.125% | 0.125% | 0.25% | 0% | | Non-industrial : Others : Diamond, cut or otherwise worked but not mounted or set (other than those specified in .125% rate entry ) | 0.75% | 0.75% | 1.5% | 0% | ## Frequently asked questions ### What products are classified under HSN 71023910 ? It includes Synthetic Precious Stones – Rubies and Sapphires ### Can we claim ITC on inputs used to trade Cut or Worked Non-Industrial Diamonds? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### Do e‑way bill and e‑invoice apply for Cut or Worked Non-Industrial Diamonds? 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. ### Any common misclassification issue with Cut or Worked Non-Industrial Diamonds? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### Does packaging or labelling change the GST for Cut or Worked Non-Industrial Diamonds? 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 Cut or Worked Non-Industrial Diamonds is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Cut or Worked Non-Industrial Diamonds; Nil for exempt items if applicable). ## India's trade performance: HSN Code 71023910 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹1,12,188 Cr (−14.96% YoY) — 3.0482% of India's total exports - Imports: ₹47,537 Cr (−21.05% YoY) — 0.7824% of India's total imports - Trade balance: ₹64,651 Cr (Surplus); surplus rank #6 of 12657 HSN codes - Share of Sub-Chapter 7102: 96.39% of its exports; import side 34.68% - Rank within Sub-Chapter 7102: #1 of 8 by export value; import-side #2 ### Key metrics - Export CAGR: -6.34% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #4 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +49.07% in FY 2021-22 - Contribution to Sub-Ch. 7102: 96.39% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 71023910 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 | 1,66,216.51 | 7.2744% | — | 94.56% | 67,673.45 | 1.8879% | — | 38.07% | +98,543.06 | #1 | | FY 2019-20 | 1,31,690.86 | 5.9825% | −20.77% | 94.06% | 56,155.85 | 1.6774% | −17.02% | 37.80% | +75,535.01 | #1 | | FY 2020-21 | 1,21,956.75 | 5.6702% | −7.39% | 96.94% | 48,122.14 | 1.6515% | −14.31% | 37.55% | +73,834.61 | #1 | | FY 2021-22 | 1,81,798.54 | 5.7929% | +49.07% | 96.02% | 63,574.99 | 1.3910% | +32.11% | 30.96% | +1,18,223.55 | #1 | | FY 2022-23 | 1,76,578.07 | 4.8769% | −2.87% | 96.12% | 68,431.53 | 1.1903% | +7.64% | 32.98% | +1,08,146.54 | #2 | | FY 2023-24 | 1,31,928.29 | 3.6463% | −25.29% | 94.58% | 60,209.70 | 1.0721% | −12.01% | 33.69% | +71,718.59 | #3 | | FY 2024-25 | 1,12,187.75 | 3.0482% | −14.96% | 96.39% | 47,536.97 | 0.7824% | −21.05% | 34.68% | +64,650.78 | #4 | - CAGR (7-year): exports -6.34%/yr, imports -5.72%/yr (consistently Surplus) ## Key trade insights: HSN Code 71023910 export-import analysis ### Export decline: -6.34% CAGR over 7 years India's exports under HSN Code 71023910 have declined at a compound annual rate of -6.34% over 7 fiscal years, falling from ₹1,66,216.51 Crore in FY 2018-19 to ₹1,12,187.75 Crore in FY 2024-25. ### HSN Code 71023910 ranked #4 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 71023910 ranks #4 out of 12657 HSN codes by total export value. Within Sub-Chapter 7102, it ranks #1 of 8. By trade surplus, it ranks #6 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 71023910 exports The strongest single-year export movement for HSN Code 71023910 was recorded in FY 2021-22, when exports surged by 49.07% over the prior year. ### India maintains a trade surplus of ₹64,650.78 Crore in HSN Code 71023910 goods In FY 2024-25, India's exports of ₹1,12,187.75 Cr exceeded imports of ₹47,536.97 Cr, resulting in a trade surplus of ₹64,650.78 Crore — ranking #6 of 12657 by surplus magnitude. ### Import growth of -5.72% CAGR signals stable import dependency for Cut or Worked Non-Industrial Diamonds India's imports under HSN Code 71023910 have grown at -5.72% CAGR, reaching ₹47,536.97 Crore in FY 2024-25. ### HSN Code 71023910 contributes 96.39% of Sub-Chapter 7102 exports — ranked #1 Among the 8 HSN codes under Sub-Chapter 7102, HSN Code 71023910 ranks #1 by export value — accounting for 96.39% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 34.68% share (rank #2). ## 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 (this hsn code) | ₹1,12,188 Cr | | #2 | [HSN Code 71023100: Sapphires, Rubies and Emeralds](https://busy.in/hsn/hsn-71023100/) | ₹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 |