HSN Code 71042010: Lab grown diamonds

HSN Code 71042010 represents Lab grown diamonds under GST classification. This code helps businesses identify Lab grown diamonds correctly for billing, taxation, and trade. With HSN Code 71042010, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Lab grown diamonds.

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Description of Goods for HSN Code 71042010

HSN Code 71042010 relates to the following description.

Description of Goods

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

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 71042010 not include?

Lab grown diamonds does not include products with the following descriptions.

HSN Code 71042000

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

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

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Frequently Asked Questions

Clear answers to common queries about HSN Code 71042010 and GST compliance.

What products are classified under HSN 71042010 ?

It includes Zinc Coated Flat Steel (>=600mm)

Do e‑way bill and e‑invoice apply for Lab 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.

Does packaging or labelling change the GST for Lab 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 Lab grown diamonds is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Lab grown diamonds; Nil for exempt items if applicable).

Can we claim ITC on inputs used to trade Lab 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.

Any common misclassification issue with Lab grown diamonds?

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 Lab grown diamonds?

Under HSN 71042010, Lab 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.