HSN Code 71081200 represents Silver Ores under GST classification. This code helps businesses identify Silver Ores correctly for billing, taxation, and trade. With HSN Code 71081200, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Silver Ores.
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HSN Code 71081200 relates to the following description.
Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin
Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form
Non-monetary : Other unwrought forms
1.5%
1.5%
3%
0%
Description of Goods
Non-monetary : Other unwrought forms
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
7108 - Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form
CGST
1.5%
SGST
1.5%
IGST
3%
CESS
0%
Silver Ores does not include products with the following descriptions.
Non-monetary : Powder
Non-monetary : Other semi-manufactured forms
Monetary
India’s Exports
FY 2024-25₹7,795 Cr
0.2118% of India’s total exports
India’s Imports
FY 2024-25₹4,87,472 Cr
8.0232% of India’s total imports
Trade Balance
FY 2024-25−₹4,79,677 Cr
Surplus rank #12656 of 12657 HSN codes
% of Sub-Chapter 7108
FY 2024-2599.24%
Share of Sub-Chapter 7108’s total exports in FY 2024-25
Import side: 99.54% of Sub-Chapter 7108’s imports
Rank Within Sub-Chapter 7108
FY 2024-25#1 of 4
Position by export value among HSN codes in Sub-Chapter 7108
Import-side rank: #1 of 4
At a glance
94.58%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#56
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+2,715.40%
Peak Growth Year
FY 2022-23 · strongest single-year move
99.24%
Contribution to Sub-Ch. 7108
Share of Sub-Chapter 7108 exports in FY 2024-25
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−2,28,652.45
Exports
143.63 ₹ Cr
0.0063% share
— YoY
99.65% of Sub-Ch. 7108
Imports
2,28,796.08 ₹ Cr
6.3827% share
— YoY
99.68% of Sub-Ch. 7108
Balance
−1,98,114.64
Exports
530.10 ₹ Cr
0.0241% share
+269.07% YoY
92.31% of Sub-Ch. 7108
Imports
1,98,644.74 ₹ Cr
5.9337% share
−13.18% YoY
99.70% of Sub-Ch. 7108
Balance
−2,51,608.76
Exports
1,889.45 ₹ Cr
0.0878% share
+256.43% YoY
99.99% of Sub-Ch. 7108
Imports
2,53,498.21 ₹ Cr
8.6997% share
+27.61% YoY
99.69% of Sub-Ch. 7108
Balance
−3,39,516.80
Exports
42.33 ₹ Cr
0.0013% share
−97.76% YoY
91.23% of Sub-Ch. 7108
Imports
3,39,559.13 ₹ Cr
7.4292% share
+33.95% YoY
98.68% of Sub-Ch. 7108
Balance
−2,76,625.67
Exports
1,191.76 ₹ Cr
0.0329% share
+2,715.40% YoY
99.98% of Sub-Ch. 7108
Imports
2,77,817.43 ₹ Cr
4.8322% share
−18.18% YoY
99.05% of Sub-Ch. 7108
Balance
−3,75,486.21
Exports
548.33 ₹ Cr
0.0152% share
−53.99% YoY
67.17% of Sub-Ch. 7108
Imports
3,76,034.54 ₹ Cr
6.6959% share
+35.35% YoY
99.68% of Sub-Ch. 7108
Balance
−4,79,676.63
Exports
7,794.91 ₹ Cr
0.2118% share
+1,321.57% YoY
99.24% of Sub-Ch. 7108
Imports
4,87,471.54 ₹ Cr
8.0232% share
+29.63% YoY
99.54% of Sub-Ch. 7108
CAGR · 7-Year
Exports
94.58% /yr
Imports
13.44% /yr
reference, FY 2024-25
Export
₹7,854.44 Cr
Import
₹4,89,748.79 Cr
Trade Balance
−4,81,894.35
India's exports under HSN Code 71081200 have grown at a compound annual rate of 94.58% over 7 fiscal years, rising from ₹143.63 Crore in FY 2018-19 to ₹7,794.91 Crore in FY 2024-25.
In FY 2024-25, HSN Code 71081200 ranks #56 out of 12657 HSN codes by total export value. Within Sub-Chapter 7108, it ranks #1 of 4. By trade surplus, it ranks #12656 of 12657.
The strongest single-year export movement for HSN Code 71081200 was recorded in FY 2022-23, when exports surged by 2,715.40% over the prior year.
In FY 2024-25, India's imports of ₹4,87,471.54 Cr exceeded exports of ₹7,794.91 Cr, resulting in a trade deficit of ₹4,79,676.63 Crore — ranking #12656 of 12657 by surplus magnitude.
India's imports under HSN Code 71081200 have grown at 13.44% CAGR, reaching ₹4,87,471.54 Crore in FY 2024-25.
Among the 4 HSN codes under Sub-Chapter 7108, HSN Code 71081200 ranks #1 by export value — accounting for 99.24% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 99.54% share (rank #1).
BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.
Clear answers to common queries about HSN Code 71081200 and GST compliance.
It includes Waste and Scrap of Precious Metals
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.
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.
Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.
Under HSN 71081200, Silver Ores attracts Varies when sold in taxable form. Describe the exact form on the invoice.
Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Silver Ores; Nil for exempt items if applicable).
If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.