--- title: "HSN Code for Precious Metals – Unwrought or Semi-Manufactured | HSN 71031051 GST Rate" description: "Find HSN and GST Rates for 71031051 related to Precious Metals – Unwrought or Semi-Manufactured with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-71031051/" --- # HSN Code 71031051: Precious Metals – Unwrought or Semi-Manufactured - [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 “Garnet” and “Lazurite” mineralogical species: Garnet | 0.125% | 0.125% | 0.25% | 0% | ## Frequently asked questions ### What products are classified under HSN 71031051 ? It includes Precious Metal Coated Base Metal Articles ### Any common misclassification issue with Precious Metals – Unwrought or Semi-Manufactured? 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 Precious Metals – Unwrought or Semi-Manufactured? 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 much GST applies to Precious Metals – Unwrought or Semi-Manufactured? Under HSN 71031051, Precious Metals – Unwrought or Semi-Manufactured attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Can we claim ITC on inputs used to trade Precious Metals – Unwrought or Semi-Manufactured? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### Does packaging or labelling change the GST for Precious Metals – Unwrought or Semi-Manufactured? 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. ## India's trade performance: HSN Code 71031051 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹4 Cr (−2.43% YoY) — 0.0001% of India's total exports - Imports: ₹30 Cr (−13.05% YoY) — 0.0005% of India's total imports - Trade balance: −₹27 Cr (Deficit); surplus rank #9754 of 12657 HSN codes - Share of Sub-Chapter 7103: 0.09% of its exports; import side 0.49% - Rank within Sub-Chapter 7103: #28 of 55 by export value; import-side #18 ### Key metrics - National export rank: #6992 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +62.18% in FY 2022-23 - Contribution to Sub-Ch. 7103: 0.09% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 71031051 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 | 2.02 | 0.0001% | — | 0.07% | 6.48 | 0.0002% | — | 0.12% | −4.46 | #6979 | | FY 2021-22 | 1.93 | 0.0001% | −4.46% | 0.03% | 14.13 | 0.0003% | +118.06% | 0.10% | −12.20 | #7353 | | FY 2022-23 | 3.13 | 0.0001% | +62.18% | 0.08% | 21.26 | 0.0004% | +50.46% | 0.08% | −18.13 | #6955 | | FY 2023-24 | 3.70 | 0.0001% | +18.21% | 0.09% | 34.64 | 0.0006% | +62.94% | 0.57% | −30.94 | #6916 | | FY 2024-25 | 3.61 | 0.0001% | −2.43% | 0.09% | 30.12 | 0.0005% | −13.05% | 0.49% | −26.51 | #6992 | ## Key trade insights: HSN Code 71031051 export-import analysis ### Export snapshot for HSN Code 71031051 India exported ₹3.61 Crore worth of Precious Metals – Unwrought or Semi-Manufactured in FY 2024-25. Multi-year trend data is being compiled for this hsn code. ### HSN Code 71031051 ranked #6992 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 71031051 ranks #6992 out of 12657 HSN codes by total export value. Within Sub-Chapter 7103, it ranks #28 of 55. By trade surplus, it ranks #9754 of 12657. ### FY 2022-23 was the strongest growth year for HSN Code 71031051 exports The strongest single-year export movement for HSN Code 71031051 was recorded in FY 2022-23, when exports surged by 62.18% over the prior year. ### India records a trade deficit of ₹26.51 Crore in HSN Code 71031051 goods In FY 2024-25, India's imports of ₹30.12 Cr exceeded exports of ₹3.61 Cr, resulting in a trade deficit of ₹26.51 Crore — ranking #9754 of 12657 by surplus magnitude. ### HSN Code 71031051 contributes 0.09% of Sub-Chapter 7103 exports — ranked #28 Among the 55 HSN codes under Sub-Chapter 7103, HSN Code 71031051 ranks #28 by export value — accounting for 0.09% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.49% share (rank #18). ## 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 | | #28 | HSN Code 71031051: Precious Metals – Unwrought or Semi-Manufactured (this hsn code) | ₹4 Cr |