--- title: "HSN Code for Silver Parts of Goldsmiths or Silversmiths Wares | HSN 71141120 GST Rate" description: "Find HSN and GST Rates for 71141120 related to Silver Parts of Goldsmiths or Silversmiths Wares with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-71141120/" --- # HSN Code 71141120: Silver Parts of Goldsmiths or Silversmiths Wares - [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 7114: Precious metal articles & wares](https://busy.in/hsn/sub-chapter-7114/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Of precious metal, whether or not plated or clad with precious metal : Of silver, whether or not plated or clad with precious metal : Parts | 1.5% | 1.5% | 3% | 0% | ## Frequently asked questions ### What products are classified under HSN 71141120 ? It includes Parts of Precious Metal Articles ### How much GST applies to Silver Parts of Goldsmiths or Silversmiths Wares? Under HSN 71141120, Silver Parts of Goldsmiths or Silversmiths Wares attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Can we claim ITC on inputs used to trade Silver Parts of Goldsmiths or Silversmiths Wares? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### Do e‑way bill and e‑invoice apply for Silver Parts of Goldsmiths or Silversmiths Wares? 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 Silver Parts of Goldsmiths or Silversmiths Wares? Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection. ### Does packaging or labelling change the GST for Silver Parts of Goldsmiths or Silversmiths Wares? 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 71141120 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: < ₹1 Crore (−91.67% YoY) — 0.0000% of India's total exports - Imports: ₹3 Cr (+73.30% YoY) — 0.0001% of India's total imports - Trade balance: −₹3 Cr (Deficit); surplus rank #8402 of 12657 HSN codes - Share of Sub-Chapter 7114: 0.03% of its exports; import side 4.00% - Rank within Sub-Chapter 7114: #5 of 8 by export value; import-side #5 ### Key metrics - Export CAGR: -32.69% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #10112 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +4,500.00% in FY 2020-21 - Contribution to Sub-Ch. 7114: 0.03% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 71141120 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. 7114 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 7114 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | < ₹1 Crore | 0.0000% | — | 0.19% | 2.05 | 0.0001% | — | 1.42% | −1.62 | #8296 | | FY 2019-20 | < ₹1 Crore | 0.0000% | −97.67% | 0.01% | 1.79 | 0.0001% | −12.68% | 2.34% | −1.78 | #9870 | | FY 2020-21 | < ₹1 Crore | 0.0000% | +4,500.00% | 0.62% | 2.72 | 0.0001% | +51.96% | 15.33% | −2.26 | #8300 | | FY 2021-22 | 1.03 | 0.0000% | +123.91% | 0.79% | 1.75 | 0.0000% | −35.66% | 6.92% | −0.72 | #7946 | | FY 2022-23 | < ₹1 Crore | 0.0000% | −28.16% | 0.47% | 2.68 | 0.0000% | +53.14% | 0.52% | −1.94 | #8363 | | FY 2023-24 | < ₹1 Crore | 0.0000% | −35.14% | 0.26% | 1.91 | 0.0000% | −28.73% | 4.62% | −1.43 | #8827 | | FY 2024-25 | < ₹1 Crore | 0.0000% | −91.67% | 0.03% | 3.31 | 0.0001% | +73.30% | 4.00% | −3.27 | #10112 | - CAGR (7-year): exports -32.69%/yr, imports 8.31%/yr (consistently Deficit) ## Key trade insights: HSN Code 71141120 export-import analysis ### Export decline: -32.69% CAGR over 7 years India's exports under HSN Code 71141120 have declined at a compound annual rate of -32.69% over 7 fiscal years, falling from ₹0.43 Crore in FY 2018-19 to ₹0.04 Crore in FY 2024-25. ### HSN Code 71141120 ranked #10112 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 71141120 ranks #10112 out of 12657 HSN codes by total export value. Within Sub-Chapter 7114, it ranks #5 of 8. By trade surplus, it ranks #8402 of 12657. ### FY 2020-21 was the strongest growth year for HSN Code 71141120 exports The strongest single-year export movement for HSN Code 71141120 was recorded in FY 2020-21, when exports surged by 4,500.00% over the prior year. ### India records a trade deficit of ₹3.27 Crore in HSN Code 71141120 goods In FY 2024-25, India's imports of ₹3.31 Cr exceeded exports of ₹0.04 Cr, resulting in a trade deficit of ₹3.27 Crore — ranking #8402 of 12657 by surplus magnitude. ### Import growth of 8.31% CAGR signals stable import dependency for Silver Parts of Goldsmiths or Silversmiths Wares India's imports under HSN Code 71141120 have grown at 8.31% CAGR, reaching ₹3.31 Crore in FY 2024-25. ### HSN Code 71141120 contributes 0.03% of Sub-Chapter 7114 exports — ranked #5 Among the 8 HSN codes under Sub-Chapter 7114, HSN Code 71141120 ranks #5 by export value — accounting for 0.03% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 4.00% share (rank #5). ## Related HSN Codes in Sub-Chapter 7114 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 71141110: Silver Articles of Goldsmiths or Silversmiths](https://busy.in/hsn/hsn-71141110/) | ₹120 Cr | | #2 | [HSN Code 71141910: Gold Articles of Precious Metal](https://busy.in/hsn/hsn-71141910/) | ₹35 Cr | | #3 | [HSN Code 71142010: Goldsmiths or Silversmiths' Articles of Base Metal Clad](https://busy.in/hsn/hsn-71142010/) | ₹2 Cr | | #4 | [HSN Code 71142020: Other Articles of Goldsmiths or Silversmiths Wares](https://busy.in/hsn/hsn-71142020/) | < ₹1 Crore | | #5 | HSN Code 71141120: Silver Parts of Goldsmiths or Silversmiths Wares (this hsn code) | < ₹1 Crore | | #6 | [HSN Code 71141920: Platinum Articles of Precious Metal](https://busy.in/hsn/hsn-71141920/) | < ₹1 Crore | | #6 | [HSN Code 71142030: Parts of Goldsmiths or Silversmiths Articles](https://busy.in/hsn/hsn-71142030/) | < ₹1 Crore | | #8 | [HSN Code 71141930: Parts of Precious Metal Articles](https://busy.in/hsn/hsn-71141930/) | < ₹1 Crore |