--- title: "HSN Code for Imitation Precious Stones – Other Types | HSN 71031049 GST Rate" description: "Find HSN and GST Rates for 71031049 related to Imitation Precious Stones – Other Types with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-71031049/" --- # HSN Code 71031049: Imitation Precious Stones – Other Types - [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: Other | 0.125% | 0.125% | 0.25% | 0% | ## Frequently asked questions ### What products are classified under HSN 71031049 ? It includes Articles Made of Precious Metals ### How much GST applies to Imitation Precious Stones – Other Types? Under HSN 71031049, Imitation Precious Stones – Other Types attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Do e‑way bill and e‑invoice apply for Imitation Precious Stones – Other Types? 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 Imitation Precious Stones – Other Types? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How should mixed supplies be billed when Imitation Precious Stones – Other Types is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Imitation Precious Stones – Other Types; Nil for exempt items if applicable). ### Does packaging or labelling change the GST for Imitation Precious Stones – Other Types? 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 Imitation Precious Stones – Other Types? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ## India's trade performance: HSN Code 71031049 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹4 Cr (−32.25% YoY) — 0.0001% of India's total exports - Imports: ₹8 Cr (−9.07% YoY) — 0.0001% of India's total imports - Trade balance: −₹4 Cr (Deficit); surplus rank #8521 of 12657 HSN codes - Share of Sub-Chapter 7103: 0.09% of its exports; import side 0.13% - Rank within Sub-Chapter 7103: #29 of 55 by export value; import-side #24 ### Key metrics - National export rank: #7017 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +184.70% in FY 2023-24 - Contribution to Sub-Ch. 7103: 0.09% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 71031049 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 | 1.88 | 0.0001% | — | 0.06% | 5.71 | 0.0002% | — | 0.10% | −3.83 | #7053 | | FY 2021-22 | 1.86 | 0.0001% | −1.06% | 0.03% | 7.65 | 0.0002% | +33.98% | 0.05% | −5.79 | #7405 | | FY 2022-23 | 1.83 | 0.0001% | −1.61% | 0.05% | 7.62 | 0.0001% | −0.39% | 0.03% | −5.79 | #7532 | | FY 2023-24 | 5.21 | 0.0001% | +184.70% | 0.12% | 8.49 | 0.0002% | +11.42% | 0.14% | −3.28 | #6526 | | FY 2024-25 | 3.53 | 0.0001% | −32.25% | 0.09% | 7.72 | 0.0001% | −9.07% | 0.13% | −4.19 | #7017 | ## Key trade insights: HSN Code 71031049 export-import analysis ### Export snapshot for HSN Code 71031049 India exported ₹3.53 Crore worth of Imitation Precious Stones – Other Types in FY 2024-25. Multi-year trend data is being compiled for this hsn code. ### HSN Code 71031049 ranked #7017 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 71031049 ranks #7017 out of 12657 HSN codes by total export value. Within Sub-Chapter 7103, it ranks #29 of 55. By trade surplus, it ranks #8521 of 12657. ### FY 2023-24 was the strongest growth year for HSN Code 71031049 exports The strongest single-year export movement for HSN Code 71031049 was recorded in FY 2023-24, when exports surged by 184.70% over the prior year. ### India records a trade deficit of ₹4.19 Crore in HSN Code 71031049 goods In FY 2024-25, India's imports of ₹7.72 Cr exceeded exports of ₹3.53 Cr, resulting in a trade deficit of ₹4.19 Crore — ranking #8521 of 12657 by surplus magnitude. ### HSN Code 71031049 contributes 0.09% of Sub-Chapter 7103 exports — ranked #29 Among the 55 HSN codes under Sub-Chapter 7103, HSN Code 71031049 ranks #29 by export value — accounting for 0.09% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.13% share (rank #24). ## 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 | | #29 | HSN Code 71031049: Imitation Precious Stones – Other Types (this hsn code) | ₹4 Cr |