HSN Code 71042000: Other Lab-Created/Grown Diamonds

HSN Code 71042000 represents Other Lab-Created/Grown Diamonds under GST classification. This code helps businesses identify Other Lab-Created/Grown Diamonds correctly for billing, taxation, and trade. With HSN Code 71042000, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Other Lab-Created/Grown Diamonds.

Live Demo Available Today

Experience the power of Expert Accounting

Join our guided walkthrough to see how BUSY can transform your business operations.

Trusted by 6,00,000+ Users
4.6 Google Rating
+91
expand_more

* No credit card required

Description of Goods for HSN Code 71042000

HSN Code 71042000 relates to the following description.

Description of Goods

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

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

7104 - Synthetic or reconstructed precious or semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded synthetic or reconstructed precious or semi-precious stones, temporarily strung for convenience of transport

CGST

0%

SGST

0%

IGST

0%

CESS

0%

What does HSN Code 71042000 not include?

Other Lab-Created/Grown Diamonds does not include products with the following descriptions.

HSN Code 71042010

Laboratory-created or laboratory grown or manmade or cultured or synthetic diamonds

HSN Code 71042900

Other, unworked or simply sawn or roughly shaped: Other (other than those specified in .125% rate entry )

HSN Code 71049010

Synthetic or reconstructed precious or semi-precious stones, whether or not worked or graded but not strung,mounted or set; ungraded synthetic or reconstructed precious or semi-precious stones, temporarily strung for convenience of transport-other-laboratory created or laboratory grown or manmade or cultured or synthetic diamonds

HSN Code 71049090

Synthetic or reconstructed precious or semi-precious stones, whether or not worked or graded but not strung,mounted or set; ungraded synthetic or reconstructed precious or semi-precious stones, temporarily strung for convenience of transport-other-laboratory created or laboratory grown or manmade or cultured or synthetic diamonds-other

Stop worrying about HSN & TAX compliance

BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.

Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
+91
expand_more

* No credit card required

Frequently Asked Questions

Clear answers to common queries about HSN Code 71042000 and GST compliance.

What products are classified under HSN 71042000 ?

It includes Studded with diamonds of heading 7102

Does packaging or labelling change the GST for Other Lab-Created/Grown 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.

How should mixed supplies be billed when Other Lab-Created/Grown Diamonds is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Other Lab-Created/Grown Diamonds; Nil for exempt items if applicable).

Do e‑way bill and e‑invoice apply for Other Lab-Created/Grown 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.

Can we claim ITC on inputs used to trade Other Lab-Created/Grown Diamonds?

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

How much GST applies to Other Lab-Created/Grown Diamonds?

Under HSN 71042000, Other Lab-Created/Grown Diamonds attracts Varies when sold in taxable form. Describe the exact form on the invoice.

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.