--- title: "HSN Code for Cultured Pearls – Imitation | HSN 71031041 GST Rate" description: "Find HSN and GST Rates for 71031041 related to Cultured Pearls – Imitation with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-71031041/" --- # HSN Code 71031041: Cultured Pearls – Imitation - [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 7103: Reconstructed precious stone](https://busy.in/hsn/sub-chapter-7103/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Unworked or simply sawn or roughly shaped:Precious or semi-precious stones of “Corundum” and “Feldspar” mineralogical species: Ruby | 0.125% | 0.125% | 0.25% | 0% | ## Frequently asked questions ### What products are classified under HSN 71031041 ? It includes Imitation Precious Stones – Other Types ### How should mixed supplies be billed when Cultured Pearls – Imitation is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Cultured Pearls – Imitation; Nil for exempt items if applicable). ### Any common misclassification issue with Cultured Pearls – Imitation? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### How much GST applies to Cultured Pearls – Imitation? Under HSN 71031041, Cultured Pearls – Imitation attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Can we claim ITC on inputs used to trade Cultured Pearls – Imitation? 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 Cultured Pearls – Imitation? 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. ## India's trade performance: HSN Code 71031041 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹6 Cr (−56.98% YoY) — 0.0002% of India's total exports - Imports: ₹230 Cr (−11.15% YoY) — 0.0038% of India's total imports - Trade balance: −₹224 Cr (Deficit); surplus rank #11389 of 12657 HSN codes - Share of Sub-Chapter 7103: 0.15% of its exports; import side 3.76% - Rank within Sub-Chapter 7103: #24 of 55 by export value; import-side #7 ### Key metrics - National export rank: #6402 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +2,62,069.37% in FY 2021-22 - Contribution to Sub-Ch. 7103: 0.15% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 71031041 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. 7103 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 7103 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | Nil | 0.0000% | — | 0.00% | Nil | 0.0000% | — | 0.00% | 0.00 | — | | FY 2019-20 | Nil | 0.0000% | — | 0.00% | Nil | 0.0000% | — | 0.00% | 0.00 | — | | FY 2020-21 | 1.11 | 0.0001% | — | 0.04% | 170.86 | 0.0059% | — | 3.05% | −169.75 | #7576 | | FY 2021-22 | 2,910.08 | 0.0927% | +2,62,069.37% | 46.89% | 266.96 | 0.0058% | +56.24% | 1.83% | +2,643.12 | #160 | | FY 2022-23 | 3.67 | 0.0001% | −99.87% | 0.10% | 130.02 | 0.0023% | −51.30% | 0.50% | −126.35 | #6774 | | FY 2023-24 | 13.97 | 0.0004% | +280.65% | 0.32% | 259.41 | 0.0046% | +99.52% | 4.27% | −245.44 | #5267 | | FY 2024-25 | 6.01 | 0.0002% | −56.98% | 0.15% | 230.49 | 0.0038% | −11.15% | 3.76% | −224.48 | #6402 | ## Key trade insights: HSN Code 71031041 export-import analysis ### Export snapshot for HSN Code 71031041 India exported ₹6.01 Crore worth of Cultured Pearls – Imitation in FY 2024-25. Multi-year trend data is being compiled for this hsn code. ### HSN Code 71031041 ranked #6402 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 71031041 ranks #6402 out of 12657 HSN codes by total export value. Within Sub-Chapter 7103, it ranks #24 of 55. By trade surplus, it ranks #11389 of 12657. ### FY 2021-22 was the strongest growth year for HSN Code 71031041 exports The strongest single-year export movement for HSN Code 71031041 was recorded in FY 2021-22, when exports surged by 2,62,069.37% over the prior year. ### India records a trade deficit of ₹224.48 Crore in HSN Code 71031041 goods In FY 2024-25, India's imports of ₹230.49 Cr exceeded exports of ₹6.01 Cr, resulting in a trade deficit of ₹224.48 Crore — ranking #11389 of 12657 by surplus magnitude. ### HSN Code 71031041 contributes 0.15% of Sub-Chapter 7103 exports — ranked #24 Among the 55 HSN codes under Sub-Chapter 7103, HSN Code 71031041 ranks #24 by export value — accounting for 0.15% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 3.76% share (rank #7). ## Related HSN Codes in Sub-Chapter 7103 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 71039130: Other Parts for Jewellery](https://busy.in/hsn/hsn-71039130/) | ₹1,833 Cr | | #2 | [HSN Code 71039990: Other Precious or Semi-Precious Stones](https://busy.in/hsn/hsn-71039990/) | ₹412 Cr | | #3 | [HSN Code 71039952: Tanzanite Precious or Semi-Precious Stones](https://busy.in/hsn/hsn-71039952/) | ₹407 Cr | | #4 | [HSN Code 71039110: Precious Metal Parts for Jewellery](https://busy.in/hsn/hsn-71039110/) | ₹247 Cr | | #5 | [HSN Code 71039120: Base Metal Parts for Jewellery](https://busy.in/hsn/hsn-71039120/) | ₹184 Cr | | #6 | [HSN Code 71039939: Other Articles of Base Metals](https://busy.in/hsn/hsn-71039939/) | ₹146 Cr | | #7 | [HSN Code 71039951: Tourmaline & Zoisite Precious or Semi-Precious Stones](https://busy.in/hsn/hsn-71039951/) | ₹145 Cr | | #8 | [HSN Code 71039919: Other Articles of Precious Metals](https://busy.in/hsn/hsn-71039919/) | ₹113 Cr | | #9 | [HSN Code 71039949: Prehnite & Quartz Precious or Semi-Precious Stones](https://busy.in/hsn/hsn-71039949/) | ₹83 Cr | | #10 | [HSN Code 71039911: Precious Metal Foil and Leaf](https://busy.in/hsn/hsn-71039911/) | ₹56 Cr | | #24 | HSN Code 71031041: Cultured Pearls – Imitation (this hsn code) | ₹6 Cr |