2616 HSN Code: Precious metal ores & extracts

HSN Sub Chapter 2616 represents Precious metal ores & extracts under GST classification. This code helps businesses identify Precious metal ores & extracts correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 2616, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Precious metal ores & extracts.

Live Demo Available Today

Experience the power of Expert Accounting

Join our guided walkthrough to see how BUSY can transform your business operations.

Trusted by 6,00,000+ Users
4.6 Google Rating
+91
expand_more

* No credit card required

New GST Rate for HSN Code 2616

GST Rate for Precious metal ores & extracts under HSN Code 2616. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

26

HSN Code

2616

HSN Description

Precious metal ores and concentrates

New GST Rate

5 %
Essential

Old GST Rate

5 %

Tariff HSN Codes under HSN Sub Chapter 2616

Following tariff HSN codes fall under Precious metal ores & extracts.

Tariff HSN

26161000

Description

Silver ores and concentrates

Tariff HSN

26169010

Description

Other : Gold ores and concentrates

Tariff HSN

26169090

Description

Other: Other

India’s Trade Performance — HSN Sub-Chapter 2616 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

Nil

First year of recorded data

0.0000% of India’s total exports

India’s Imports

FY 2024-25

₹1,189 Cr

+37.05% vs FY 2023-24

0.0195% of India’s total imports

Trade Balance

FY 2024-25

−₹1,189 Cr

Trade Deficit

Surplus rank #977 of 1233 subchapters

% of Chapter 26

FY 2024-25

0.00%

Share of Chapter 26’s total exports in FY 2024-25

Import side: 1.94% of Chapter 26’s imports

At a glance

−75.93%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.00%

Contribution to Ch. 26

Share of Chapter 26 exports in FY 2024-25

India Export-Import Trade Statistics for 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 2018-19 Exp. Rank #1192

Balance

+0.03

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.00% of Ch. 26

Imports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.00% of Ch. 26

FY 2019-20

Balance

−0.07

Exports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Ch. 26

Imports

< ₹1 Crore ₹ Cr

0.0000% share

+250.00% YoY

0.00% of Ch. 26

FY 2020-21 Exp. Rank #1139

Balance

−4.31

Exports

< ₹1 Crore ₹ Cr

0.0000% share

— YoY

0.00% of Ch. 26

Imports

4.85 ₹ Cr

0.0002% share

+6,828.57% YoY

0.03% of Ch. 26

FY 2021-22 Exp. Rank #1174

Balance

−237.53

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−75.93% YoY

0.00% of Ch. 26

Imports

237.66 ₹ Cr

0.0052% share

+4,800.21% YoY

0.56% of Ch. 26

FY 2022-23 Exp. Rank #1194

Balance

−734.61

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−76.92% YoY

0.00% of Ch. 26

Imports

734.64 ₹ Cr

0.0128% share

+209.11% YoY

1.58% of Ch. 26

FY 2023-24

Balance

−867.64

Exports

Nil ₹ Cr

0.0000% share

−100.00% YoY

0.00% of Ch. 26

Imports

867.64 ₹ Cr

0.0154% share

+18.10% YoY

1.75% of Ch. 26

FY 2024-25

Balance

−1,189.12

Exports

Nil ₹ Cr

0.0000% share

— YoY

0.00% of Ch. 26

Imports

1,189.12 ₹ Cr

0.0195% share

+37.05% YoY

1.94% of Ch. 26

CAGR · 7-Year

Exports

—

Imports

524.74% /yr

Consistently Deficit
Chapter 26 total

reference, FY 2024-25

Export

₹19,892.22 Cr

Import

₹61,194.74 Cr

Trade Balance

−41,302.52

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

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.

Stop worrying about HSN & TAX compliance

BUSY auto-applies the correct HSN codes & GST rates, ensuring 100% error-free billing every single time.

Automatic Updates
Error-free GSTR
6,00,000+ Happy Users
+91
expand_more

* No credit card required

Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 2616 and GST compliance.

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.

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.

Explore More HSN Codes from Chapter 26