HSN Code 71031031: Synthetic Precious Stones – Diamonds

HSN Code 71031031 represents Synthetic Precious Stones – Diamonds under GST classification. This code helps businesses identify Synthetic Precious Stones – Diamonds correctly for billing, taxation, and trade. With HSN Code 71031031, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Synthetic Precious Stones – Diamonds.

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Description of Goods for HSN Code 71031031

HSN Code 71031031 relates to the following description.

Description of Goods

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species: : Emerald

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

7103 - Synthetic or reconstructed precious or semiprecious stones [other than diamonds], whether or not worked or graded but not strung, mounted or set; ungraded synthetic or reconstructed precious or semiprecious stones [other than diamonds], temporarily strung for convenience of transport; synthetic or reconstructed diamonds, unworked or simply sawn or roughly shaped"

CGST

0.125%

SGST

0.125%

IGST

0.25%

CESS

0%

What does HSN Code 71031031 not include?

Synthetic Precious Stones – Diamonds does not include products with the following descriptions.

HSN Code 71031011

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: precious stones: emerald

HSN Code 71031012

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: precious stones: ruby and sapphire

HSN Code 71031019

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: precious stones: other

HSN Code 71031021

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: semi-precious stones: feldspar (moon stone)

HSN Code 71031022

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: semi-precious stones: garnet

HSN Code 71031023

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: semi-precious stones: agate

HSN Code 71031024

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: semi-precious stones: green aventurine

HSN Code 71031029

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - unworked or simply sawn or roughly shaped: semi-precious stones: other

HSN Code 71031032

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species: : Yellow/golden/pink/red/green beryl

HSN Code 71031033

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species: : Chrysoberyl (including chrysoberyl cat’s eye)

HSN Code 71031034

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species: : Alexandrite (including alexandrite cat’s eye)

HSN Code 71031039

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species: : Other

HSN Code 71031041

Unworked or simply sawn or roughly shaped:Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species: Ruby

HSN Code 71031042

Unworked or simply sawn or roughly shaped:Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species: Sapphire

HSN Code 71031043

Unworked or simply sawn or roughly shaped:Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species: moonstone

HSN Code 71031049

Unworked or simply sawn or roughly shaped:Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species: Other

HSN Code 71031051

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Garnet” and “Lazurite” mineralogical species: Garnet

HSN Code 71031052

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Garnet” and “Lazurite” mineralogical species: Lapis-lazuli

HSN Code 71031059

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Garnet” and “Lazurite” mineralogical species: Other

HSN Code 71031061

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Prehnite

HSN Code 71031062

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Agate

HSN Code 71031063

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Aventurine

HSN Code 71031064

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Chalcedony

HSN Code 71031069

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Other

HSN Code 71031071

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Tourmaline” and “Zoisite” mineralogical species: Tourmaline

HSN Code 71031072

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Tourmaline” and “Zoisite” mineralogical species: Tanzanite

HSN Code 71031079

Unworked or simply sawn or roughly shaped: Precious or semi-precious stones of “Tourmaline” and “Zoisite” mineralogical species: Other

HSN Code 71039100

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - otherwise worked: ruby, sapphire and emeralds

HSN Code 71039910

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - otherwise worked: other: feldspar (moon stone)

HSN Code 71039911

Otherwise worked: Other: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species, other than “Emerald”: Yellow/golden/pink/red/green beryl

HSN Code 71039912

Otherwise worked: Other: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species, other than “Emerald”: Chrysoberyl (including chrysoberyl cat’s eye)

HSN Code 71039913

Otherwise worked: Other: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species, other than “Emerald”: Alexandrite (including alexandrite cat’s eye)

HSN Code 71039919

Otherwise worked: Other: Precious or semi-precious stones of “Beryl” and “Chrysoberyl” mineralogical species, other than “Emerald”: Other

HSN Code 71039920

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - otherwise worked: other: garnet

HSN Code 71039921

Otherwise worked: Other: Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species, other than “Ruby” and “Sapphire”: moonstone

HSN Code 71039929

Otherwise worked: Other: Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species, other than “Ruby” and “Sapphire”: Other

HSN Code 71039930

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - otherwise worked: other: agate

HSN Code 71039931

Otherwise worked: Other: Precious or semi-precious stones of “Garnet” and “Lazurite” mineralogical species: garnet

HSN Code 71039932

Otherwise worked: Other: Precious or semi-precious stones of “Garnet” and “Lazurite” mineralogical species: Lapis-lazuli

HSN Code 71039939

Otherwise worked: Other: Precious or semi-precious stones of “Garnet” and “Lazurite” mineralogical species: Other

HSN Code 71039940

Precious stones (other than diamonds) and semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded precious stones (other than diamonds) and semi-precious stones, temporarily strung for convenience of transport - otherwise worked: other: chalcedony

HSN Code 71039941

Otherwise worked: Other: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Prehnite

HSN Code 71039942

Otherwise worked: Other: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Agate

HSN Code 71039943

Otherwise worked: Other: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Aventurine

HSN Code 71039944

Otherwise worked: Other: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Chalcedony

HSN Code 71039949

Otherwise worked: Other: Precious or semi-precious stones of “Prehnite” and “Quartz” mineralogical species: Other

HSN Code 71039951

Otherwise worked: Other: Precious or semi-precious stones of “Tourmaline” and “Zoisite” mineralogical species: Tourmaline

HSN Code 71039952

Otherwise worked: Other: Precious or semi-precious stones of “Tourmaline” and “Zoisite” mineralogical species: Tanzanite

HSN Code 71039959

Otherwise worked: Other: Precious or semi-precious stones of “Tourmaline” and “Zoisite” mineralogical species: Other

India’s Trade Performance — HSN Code 71031031 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

₹22 Cr

+118.40% vs FY 2023-24

0.0006% of India’s total exports

India’s Imports

FY 2024-25

₹2,212 Cr

−2.76% vs FY 2023-24

0.0364% of India’s total imports

Trade Balance

FY 2024-25

−₹2,190 Cr

Trade Deficit

Surplus rank #12434 of 12657 HSN codes

% of Sub-Chapter 7103

FY 2024-25

0.56%

Share of Sub-Chapter 7103’s total exports in FY 2024-25

Import side: 36.12% of Sub-Chapter 7103’s imports

Rank Within Sub-Chapter 7103

FY 2024-25

#15 of 55

Position by export value among HSN codes in Sub-Chapter 7103

Import-side rank: #1 of 55

At a glance

#4742

National Export Rank

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

+365.43%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.56%

Contribution to Sub-Ch. 7103

Share of Sub-Chapter 7103 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 71031031

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

Balance

0.00

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 7103

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 7103

FY 2019-20

Balance

0.00

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 7103

Imports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Sub-Ch. 7103

FY 2020-21 Exp. Rank #6031

Balance

−659.43

Exports

4.57 ₹ Cr

0.0002% share

— YoY

0.16% of Sub-Ch. 7103

Imports

664.00 ₹ Cr

0.0228% share

— YoY

11.85% of Sub-Ch. 7103

FY 2021-22 Exp. Rank #4523

Balance

−1,379.50

Exports

21.27 ₹ Cr

0.0007% share

+365.43% YoY

0.34% of Sub-Ch. 7103

Imports

1,400.77 ₹ Cr

0.0306% share

+110.96% YoY

9.62% of Sub-Ch. 7103

FY 2022-23 Exp. Rank #5701

Balance

−2,318.47

Exports

9.47 ₹ Cr

0.0003% share

−55.48% YoY

0.25% of Sub-Ch. 7103

Imports

2,327.94 ₹ Cr

0.0405% share

+66.19% YoY

8.89% of Sub-Ch. 7103

FY 2023-24 Exp. Rank #5717

Balance

−2,264.70

Exports

10.11 ₹ Cr

0.0003% share

+6.76% YoY

0.23% of Sub-Ch. 7103

Imports

2,274.81 ₹ Cr

0.0405% share

−2.28% YoY

37.40% of Sub-Ch. 7103

FY 2024-25 Exp. Rank #4742

Balance

−2,189.91

Exports

22.08 ₹ Cr

0.0006% share

+118.40% YoY

0.56% of Sub-Ch. 7103

Imports

2,211.99 ₹ Cr

0.0364% share

−2.76% YoY

36.12% of Sub-Ch. 7103

Sub-Chapter 7103 total

reference, FY 2024-25

Export

₹3,934.04 Cr

Import

₹6,123.93 Cr

Trade Balance

−2,189.89

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

Key Trade Insights: HSN Code 71031031 Export-Import Analysis

Export Snapshot for HSN Code 71031031

India exported ₹22.08 Crore worth of Synthetic Precious Stones – Diamonds in FY 2024-25. Multi-year trend data is being compiled for this hsn code.

HSN Code 71031031 Ranked #4742 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 71031031 ranks #4742 out of 12657 HSN codes by total export value. Within Sub-Chapter 7103, it ranks #15 of 55. By trade surplus, it ranks #12434 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 71031031 Exports

The strongest single-year export movement for HSN Code 71031031 was recorded in FY 2021-22, when exports surged by 365.43% over the prior year.

India Records a Trade Deficit of ₹2,189.91 Crore in HSN Code 71031031 Goods

In FY 2024-25, India's imports of ₹2,211.99 Cr exceeded exports of ₹22.08 Cr, resulting in a trade deficit of ₹2,189.91 Crore — ranking #12434 of 12657 by surplus magnitude.

HSN Code 71031031 Contributes 0.56% of Sub-Chapter 7103 Exports — Ranked #15

Among the 55 HSN codes under Sub-Chapter 7103, HSN Code 71031031 ranks #15 by export value — accounting for 0.56% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 36.12% share (rank #1).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 71031031 and GST compliance.

What products are classified under HSN 71031031 ?

It includes Synthetic Precious Stones – Zirconium

Does packaging or labelling change the GST for Synthetic Precious Stones – 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.

Any common misclassification issue with Synthetic Precious Stones – Diamonds?

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

Do e‑way bill and e‑invoice apply for Synthetic Precious Stones – 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.

How should mixed supplies be billed when Synthetic Precious Stones – Diamonds is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Synthetic Precious Stones – Diamonds; Nil for exempt items if applicable).

Can we claim ITC on inputs used to trade Synthetic Precious Stones – Diamonds?

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

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.