--- title: "2616 HSN Code | HSN Code for Precious metal ores & extracts in India" description: "Know more about 2616 HSN Code with BUSY Accounting - HSN Tariff, GST Rates and case laws related to chapter 2616 covering Precious metal ores & extracts." canonical: "https://busy.in/hsn/sub-chapter-2616/" --- # HSN Sub-chapter 2616: Precious metal ores & extracts Precious metal ores and concentrates Part of [Chapter 26: Ores, Slag and Ash](https://busy.in/hsn/chapter-26/). - Current GST rate: 5% - Earlier GST rate: 5% ## HSN codes | Code | Title | | --- | --- | | 26161000 | [Silver Ores And Concentrates](https://busy.in/hsn/hsn-26161000/) | | 26169010 | [Other \| Gold Ores And Concentrates](https://busy.in/hsn/hsn-26169010/) | | 26169090 | [Precious Metal Ores and Concentrates \| Other](https://busy.in/hsn/hsn-26169090/) | ## Frequently asked questions ### What products are classified under HSN 2616 It includes Precious metal ores & extracts ### Can I claim ITC on inputs and services used for Precious metal ores & extracts? If your outward supply of Precious metal ores & extracts is taxable, ITC is generally available (Sections 16–17) except blocked credits (e.g., personal use, motor vehicles in most cases). For exempt supplies, proportionate reversal is required under Rule 42/43. ### Do spares or accessories of Precious metal ores & extracts follow the same HSN? Not always. Spares are often classified by their own description or by the function/part rule. Check if a specific sub‑heading exists for parts of the main item and describe the part on the invoice. ### Is the composition scheme suitable if I mainly trade Precious metal ores & extracts? The composition scheme is optional for eligible small suppliers of goods. You cannot issue tax invoices or collect tax under composition. Check turnover limits and exclusions; evaluate margins and ITC loss before opting in. ### Does MRP, weight or pack size change GST treatment for Precious metal ores & extracts? Some entries use MRP/weight‑based conditions for classification. Keep pack size, retail marking and brand status on records and invoice to support the chosen HSN. ### Any special steps when selling Precious metal ores & extracts through an e‑commerce platform? Ensure registration requirements are met and reconcile the operator’s TCS statements with your GSTR‑2B/3B. Map SKU descriptions to HSN to reduce mismatches and returns. ### How do I bill a kit or combo that includes Precious metal ores & extracts? Prefer separate lines per item with its HSN so each component follows its own tax treatment. If it is a naturally bundled supply, identify the principal supply and tax the whole bundle accordingly. ## India's trade performance: HSN Sub-Chapter 2616 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: Nil — 0.0000% of India's total exports - Imports: ₹1,189 Cr (+37.05% YoY) — 0.0195% of India's total imports - Trade balance: −₹1,189 Cr (Deficit); surplus rank #977 of 1233 sub-chapters - Share of Chapter 26: 0.00% of its exports; import side 1.94% ### Key metrics - Peak growth year: −75.93% in FY 2021-22 - Contribution to Ch. 26: 0.00% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Sub-Chapter 2616 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 Ch. 26 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Ch. 26 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | < ₹1 Crore | 0.0000% | — | 0.00% | < ₹1 Crore | 0.0000% | — | 0.00% | +0.03 | #1192 | | FY 2019-20 | Nil | 0.0000% | −100.00% | 0.00% | < ₹1 Crore | 0.0000% | +250.00% | 0.00% | −0.07 | — | | FY 2020-21 | < ₹1 Crore | 0.0000% | — | 0.00% | 4.85 | 0.0002% | +6,828.57% | 0.03% | −4.31 | #1139 | | FY 2021-22 | < ₹1 Crore | 0.0000% | −75.93% | 0.00% | 237.66 | 0.0052% | +4,800.21% | 0.56% | −237.53 | #1174 | | FY 2022-23 | < ₹1 Crore | 0.0000% | −76.92% | 0.00% | 734.64 | 0.0128% | +209.11% | 1.58% | −734.61 | #1194 | | FY 2023-24 | Nil | 0.0000% | −100.00% | 0.00% | 867.64 | 0.0154% | +18.10% | 1.75% | −867.64 | — | | FY 2024-25 | Nil | 0.0000% | — | 0.00% | 1,189.12 | 0.0195% | +37.05% | 1.94% | −1,189.12 | — | - CAGR (7-year): exports —/yr, imports 524.74%/yr (consistently Deficit) ## Key trade insights: HSN Sub-Chapter 2616 export-import analysis ### Export snapshot for HSN Sub-Chapter 2616 India exported ₹0.00 Crore worth of Precious metal ores & extracts in FY 2024-25. Multi-year trend data is being compiled for this hsn sub-chapter. ### FY 2021-22 was the strongest growth year for HSN Sub-Chapter 2616 exports The strongest single-year export movement for HSN Sub-Chapter 2616 was recorded in FY 2021-22, when exports declined by 75.93% over the prior year. ### India records a trade deficit of ₹1,189.12 Crore in HSN Sub-Chapter 2616 goods In FY 2024-25, India's imports of ₹1,189.12 Cr exceeded exports of ₹0.00 Cr, resulting in a trade deficit of ₹1,189.12 Crore — ranking #977 of 1233 by surplus magnitude. ### Import growth of 524.74% CAGR signals rising demand for Precious metal ores & extracts India's imports under HSN Sub-Chapter 2616 have grown at 524.74% CAGR, reaching ₹1,189.12 Crore in FY 2024-25. ## Related Sub-Chapters in Chapter 26 Ranked by export value (FY 2024-25). | Rank | HSN Sub-Chapter | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Sub-Chapter 2601: Iron ores and extracts](https://busy.in/hsn/sub-chapter-2601/) | ₹17,621 Cr | | #2 | [HSN Sub-Chapter 2621: Slag & ash from waste incineration](https://busy.in/hsn/sub-chapter-2621/) | ₹652 Cr | | #3 | [HSN Sub-Chapter 2614: Titanium ores & extracts](https://busy.in/hsn/sub-chapter-2614/) | ₹508 Cr | | #4 | [HSN Sub-Chapter 2619: Waste from iron & steel production](https://busy.in/hsn/sub-chapter-2619/) | ₹401 Cr | | #5 | [HSN Sub-Chapter 2620: Slag & residues with metals](https://busy.in/hsn/sub-chapter-2620/) | ₹232 Cr | | #6 | [HSN Sub-Chapter 2603: Copper ores & extracts](https://busy.in/hsn/sub-chapter-2603/) | ₹197 Cr | | #7 | [HSN Sub-Chapter 2606: Aluminium ores & extracts](https://busy.in/hsn/sub-chapter-2606/) | ₹128 Cr | | #8 | [HSN Sub-Chapter 2618: Granulated iron slag](https://busy.in/hsn/sub-chapter-2618/) | ₹100 Cr | | #9 | [HSN Sub-Chapter 2613: Molybdenum ores & extracts](https://busy.in/hsn/sub-chapter-2613/) | ₹24 Cr | | #10 | [HSN Sub-Chapter 2602: Manganese Ores & Extracts](https://busy.in/hsn/sub-chapter-2602/) | ₹21 Cr | | — | HSN Sub-Chapter 2616: Precious metal ores & extracts (this hsn sub-chapter) | Nil | ## Other sub-chapters | Code | Title | | --- | --- | | 2601 | [Iron ores and extracts](https://busy.in/hsn/sub-chapter-2601/) | | 2602 | [Manganese Ores & Extracts](https://busy.in/hsn/sub-chapter-2602/) | | 2603 | [Copper ores & extracts](https://busy.in/hsn/sub-chapter-2603/) | | 2604 | [Nickel ores & extracts](https://busy.in/hsn/sub-chapter-2604/) | | 2605 | [Cobalt ores & extracts](https://busy.in/hsn/sub-chapter-2605/) | | 2606 | [Aluminium ores & extracts](https://busy.in/hsn/sub-chapter-2606/) | | 2607 | [Lead ores & extracts](https://busy.in/hsn/sub-chapter-2607/) | | 2608 | [Zinc ores & extracts](https://busy.in/hsn/sub-chapter-2608/) | | 2609 | [Tin ores & extracts](https://busy.in/hsn/sub-chapter-2609/) | | 2610 | [Chromium ores & extracts](https://busy.in/hsn/sub-chapter-2610/) | | 2611 | [Tungsten ores & extracts](https://busy.in/hsn/sub-chapter-2611/) | | 2612 | [Uranium or thorium ores](https://busy.in/hsn/sub-chapter-2612/) | | 2613 | [Molybdenum ores & extracts](https://busy.in/hsn/sub-chapter-2613/) | | 2614 | [Titanium ores & extracts](https://busy.in/hsn/sub-chapter-2614/) | | 2615 | [Niobium ores and extracts](https://busy.in/hsn/sub-chapter-2615/) | | 2617 | [Other ores & extracts](https://busy.in/hsn/sub-chapter-2617/) | | 2618 | [Granulated iron slag](https://busy.in/hsn/sub-chapter-2618/) | | 2619 | [Waste from iron & steel production](https://busy.in/hsn/sub-chapter-2619/) | | 2620 | [Slag & residues with metals](https://busy.in/hsn/sub-chapter-2620/) | | 2621 | [Slag & ash from waste incineration](https://busy.in/hsn/sub-chapter-2621/) |