HSN Code 71023990 represents Other Non-Industrial Diamonds under GST classification. This code helps businesses identify Other Non-Industrial Diamonds correctly for billing, taxation, and trade. With HSN Code 71023990, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Other Non-Industrial Diamonds.
Manage correct HSN codes and GST rates with BUSY.
HSN Code 71023990 relates to the following description.
Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin
Diamonds, whether or not worked, but not mounted or set
Non-industrial : Others : Other (other than those specified in .125% rate entry )
0.75%
0.75%
1.5%
0%
Description of Goods
Non-industrial : Others : Other
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
0.75%
SGST
0.75%
IGST
1.5%
CESS
0%
Description of Goods
Non-industrial : Others : Other (other than those specified in .125% rate entry )
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
0.75%
SGST
0.75%
IGST
1.5%
CESS
0%
Other Non-Industrial Diamonds does not include products with the following descriptions.
Unsorted
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 )
Unsorted
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 )
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
India’s Exports
FY 2025-26< ₹1 Crore
0.0000% of India’s total exports
India’s Imports
FY 2025-26₹21 Cr
0.0003% of India’s total imports
Trade Balance
FY 2025-26−₹20 Cr
Surplus rank #9630 of 12872 HSN codes
% of Sub-Chapter 7102
FY 2025-260.00%
Share of Sub-Chapter 7102’s total exports in FY 2025-26
Import side: 0.01% of Sub-Chapter 7102’s imports
Rank Within Sub-Chapter 7102
FY 2025-26#6 of 8
Position by export value among HSN codes in Sub-Chapter 7102
Import-side rank: #6 of 8
At a glance
−44.87%
Export CAGR
FY 2018-19 → FY 2025-26 · 8 fiscal years
#9172
National Export Rank
of 12872 HSN codes by export value, FY 2025-26
+6,966.17%
Peak Growth Year
FY 2020-21 · strongest single-year move
0.00%
Contribution to Sub-Ch. 7102
Share of Sub-Chapter 7102 exports in FY 2025-26
8-year export and import data, FY 2018-19 to FY 2025-26, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−13.22
Exports
23.27 ₹ Cr
0.0010% share
— YoY
0.01% of Sub-Ch. 7102
Imports
36.49 ₹ Cr
0.0010% share
— YoY
0.02% of Sub-Ch. 7102
Balance
−4.32
Exports
2.01 ₹ Cr
0.0001% share
−91.36% YoY
0.00% of Sub-Ch. 7102
Imports
6.33 ₹ Cr
0.0002% share
−82.65% YoY
0.00% of Sub-Ch. 7102
Balance
+139.17
Exports
142.03 ₹ Cr
0.0066% share
+6,966.17% YoY
0.11% of Sub-Ch. 7102
Imports
2.86 ₹ Cr
0.0001% share
−54.82% YoY
0.00% of Sub-Ch. 7102
Balance
−38.17
Exports
2.45 ₹ Cr
0.0001% share
−98.28% YoY
0.00% of Sub-Ch. 7102
Imports
40.62 ₹ Cr
0.0009% share
+1,320.28% YoY
0.02% of Sub-Ch. 7102
Balance
−71.29
Exports
1.04 ₹ Cr
0.0000% share
−57.55% YoY
0.00% of Sub-Ch. 7102
Imports
72.33 ₹ Cr
0.0013% share
+78.07% YoY
0.03% of Sub-Ch. 7102
Balance
+27.13
Exports
29.18 ₹ Cr
0.0008% share
+2,705.77% YoY
0.02% of Sub-Ch. 7102
Imports
2.05 ₹ Cr
0.0000% share
−97.17% YoY
0.00% of Sub-Ch. 7102
Balance
−8.19
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−99.18% YoY
0.00% of Sub-Ch. 7102
Imports
8.43 ₹ Cr
0.0001% share
+311.22% YoY
0.01% of Sub-Ch. 7102
Balance
−20.18
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+50.00% YoY
0.00% of Sub-Ch. 7102
Imports
20.54 ₹ Cr
0.0003% share
+143.65% YoY
0.01% of Sub-Ch. 7102
CAGR · 8-Year
Exports
−44.87% /yr
Imports
−7.88% /yr
reference, FY 2025-26
Export
₹1,09,950.70 Cr
Import
₹1,44,886.55 Cr
Trade Balance
−34,935.85
India's exports under HSN Code 71023990 have declined at a compound annual rate of −44.87% over 8 fiscal years, falling from ₹23.27 Crore in FY 2018-19 to ₹0.36 Crore in FY 2025-26.
In FY 2025-26, HSN Code 71023990 ranks #9172 out of 12872 HSN codes by total export value. Within Sub-Chapter 7102, it ranks #6 of 8. By trade surplus, it ranks #9630 of 12872.
The strongest single-year export movement for HSN Code 71023990 was recorded in FY 2020-21, when exports surged by 6,966.17% over the prior year.
In FY 2025-26, India's imports of ₹20.54 Cr exceeded exports of ₹0.36 Cr, resulting in a trade deficit of ₹20.18 Crore — ranking #9630 of 12872 by surplus magnitude.
India's imports under HSN Code 71023990 have grown at −7.88% CAGR, reaching ₹20.54 Crore in FY 2025-26.
Among the 8 HSN codes under Sub-Chapter 7102, HSN Code 71023990 ranks #6 by export value — accounting for 0.00% of the sub-chapter's total exports in FY 2025-26. On the import side, it holds 0.01% share (rank #6).
Clear answers to common queries about HSN Code 71023990 and GST compliance.
It includes Synthetic Precious Stones – 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.
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 Other Non-Industrial Diamonds; Nil for exempt items if applicable).
Under HSN 71023990, Other Non-Industrial Diamonds 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.