HSN Code 71131110: Cut and Polished Diamonds

HSN Code 71131110 represents Cut and Polished Diamonds under GST classification. This code helps businesses identify Cut and Polished Diamonds correctly for billing, taxation, and trade. With HSN Code 71131110, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Cut and Polished Diamonds.

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Description of Goods for HSN Code 71131110

HSN Code 71131110 relates to the following description.

Description of Goods

Of precious metal whether or not plated or clad with precious metal: Of silver, whether or not plated or clad with other precious metal: Jewellery with filigree work

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

7113 - Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal

CGST

1.5%

SGST

1.5%

IGST

3%

CESS

0%

What does HSN Code 71131110 not include?

Cut and Polished Diamonds does not include products with the following descriptions.

HSN Code 71131120

Of precious metal whether or not plated or clad with precious metal: Of silver, whether or not plated or clad with other precious metal: Jewellery studded with gems

HSN Code 71131130

Of precious metal whether or not plated or clad with precious metal: Of silver, whether or not plated or clad with other precious metal: Other articles of Jewellery

HSN Code 71131190

Of precious metal whether or not plated or clad with precious metal: Of silver, whether or not plated or clad with other precious metal: Parts

HSN Code 71131910

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal : Of gold, unstudded

HSN Code 71131920

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal : Of gold, set with pearls

HSN Code 71131930

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal : Of gold, set with diamonds

HSN Code 71131940

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal : Of gold, set with other precious and semi-precious stones

HSN Code 71131950

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal :Of platinum, unstudded

HSN Code 71131960

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal : Parts

HSN Code 71131990

Of precious metal whether or not plated or clad with precious metal: Of other precious metal, whether or not plated or clad with precious metal : Other

India’s Trade Performance — HSN Code 71131110 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

₹2 Cr

−91.82% vs FY 2023-24

0.0000% of India’s total exports

India’s Imports

FY 2024-25

₹18 Cr

−32.75% vs FY 2023-24

0.0003% of India’s total imports

Trade Balance

FY 2024-25

−₹16 Cr

Trade Deficit

Surplus rank #9409 of 12657 HSN codes

% of Sub-Chapter 7113

FY 2024-25

0.00%

Share of Sub-Chapter 7113’s total exports in FY 2024-25

Import side: 0.08% of Sub-Chapter 7113’s imports

Rank Within Sub-Chapter 7113

FY 2024-25

#21 of 30

Position by export value among HSN codes in Sub-Chapter 7113

Import-side rank: #17 of 30

At a glance

−36.96%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#7786

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+258.85%

Peak Growth Year

FY 2022-23 · strongest single-year move

0.00%

Contribution to Sub-Ch. 7113

Share of Sub-Chapter 7113 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 71131110

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #3767

Balance

+13.50

Exports

25.81 ₹ Cr

0.0011% share

— YoY

0.03% of Sub-Ch. 7113

Imports

12.31 ₹ Cr

0.0003% share

— YoY

0.28% of Sub-Ch. 7113

FY 2019-20 Exp. Rank #2877

Balance

+42.17

Exports

49.72 ₹ Cr

0.0023% share

+92.64% YoY

0.05% of Sub-Ch. 7113

Imports

7.55 ₹ Cr

0.0002% share

−38.67% YoY

0.17% of Sub-Ch. 7113

FY 2020-21 Exp. Rank #3231

Balance

+36.56

Exports

40.82 ₹ Cr

0.0019% share

−17.90% YoY

0.08% of Sub-Ch. 7113

Imports

4.26 ₹ Cr

0.0001% share

−43.58% YoY

0.20% of Sub-Ch. 7113

FY 2021-22 Exp. Rank #4410

Balance

+15.04

Exports

23.06 ₹ Cr

0.0007% share

−43.51% YoY

0.03% of Sub-Ch. 7113

Imports

8.02 ₹ Cr

0.0002% share

+88.26% YoY

0.17% of Sub-Ch. 7113

FY 2022-23 Exp. Rank #2802

Balance

+70.74

Exports

82.75 ₹ Cr

0.0023% share

+258.85% YoY

0.08% of Sub-Ch. 7113

Imports

12.01 ₹ Cr

0.0002% share

+49.75% YoY

0.13% of Sub-Ch. 7113

FY 2023-24 Exp. Rank #4791

Balance

−6.49

Exports

19.80 ₹ Cr

0.0005% share

−76.07% YoY

0.02% of Sub-Ch. 7113

Imports

26.29 ₹ Cr

0.0005% share

+118.90% YoY

0.10% of Sub-Ch. 7113

FY 2024-25 Exp. Rank #7786

Balance

−16.06

Exports

1.62 ₹ Cr

0.0000% share

−91.82% YoY

0.00% of Sub-Ch. 7113

Imports

17.68 ₹ Cr

0.0003% share

−32.75% YoY

0.08% of Sub-Ch. 7113

CAGR · 7-Year

Exports

−36.96% /yr

Imports

6.22% /yr

Consistently Deficit
Sub-Chapter 7113 total

reference, FY 2024-25

Export

₹1,06,341.19 Cr

Import

₹21,416.31 Cr

Trade Balance

+84,924.88

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Code 71131110 Export-Import Analysis

Export Decline: −36.96% CAGR Over 7 Years

India's exports under HSN Code 71131110 have declined at a compound annual rate of −36.96% over 7 fiscal years, falling from ₹25.81 Crore in FY 2018-19 to ₹1.62 Crore in FY 2024-25.

HSN Code 71131110 Ranked #7786 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 71131110 ranks #7786 out of 12657 HSN codes by total export value. Within Sub-Chapter 7113, it ranks #21 of 30. By trade surplus, it ranks #9409 of 12657.

FY 2022-23 Was the Strongest Growth Year for HSN Code 71131110 Exports

The strongest single-year export movement for HSN Code 71131110 was recorded in FY 2022-23, when exports surged by 258.85% over the prior year.

India Records a Trade Deficit of ₹16.06 Crore in HSN Code 71131110 Goods

In FY 2024-25, India's imports of ₹17.68 Cr exceeded exports of ₹1.62 Cr, resulting in a trade deficit of ₹16.06 Crore — ranking #9409 of 12657 by surplus magnitude.

Import Growth of 6.22% CAGR Signals Stable Import Dependency for Cut and Polished Diamonds

India's imports under HSN Code 71131110 have grown at 6.22% CAGR, reaching ₹17.68 Crore in FY 2024-25.

HSN Code 71131110 Contributes 0.00% of Sub-Chapter 7113 Exports — Ranked #21

Among the 30 HSN codes under Sub-Chapter 7113, HSN Code 71131110 ranks #21 by export value — accounting for 0.00% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 0.08% share (rank #17).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 71131110 and GST compliance.

What products are classified under HSN 71131110 ?

It includes Other Diamonds

How should mixed supplies be billed when Cut and Polished Diamonds is sold with other items?

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

Do e‑way bill and e‑invoice apply for Cut and Polished 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.

Any common misclassification issue with Cut and Polished 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 Cut and Polished Diamonds?

Under HSN 71131110, Cut and Polished Diamonds attracts Varies when sold in taxable form. Describe the exact form on the invoice.

Does packaging or labelling change the GST for Cut and Polished 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.

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.