7106 HSN Code: Silver in various forms

HSN Sub Chapter 7106 represents Silver in various forms under GST classification. This code helps businesses identify Silver in various forms correctly for billing, taxation, and trade purposes. With HSN Sub Chapter 7106, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Silver in various forms.

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New GST Rate for HSN Code 7106

GST Rate for Silver in various forms under HSN Code 7106. Understand current tax rates, exemptions, and legal classifications to ensure accurate billing and GST filing.

Chapter No

71

HSN Code

7106

HSN Description

Silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form

New GST Rate

0 %
Exempted

Old GST Rate

0 %

Tariff HSN Codes under HSN Sub Chapter 7106

Following tariff HSN codes fall under Silver in various forms.

Tariff HSN

71061000

Description

Powder

Tariff HSN

71069100

Description

Silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form - other : unwrought

Tariff HSN

71069110

Description

Other : Unwrought: Grains

Tariff HSN

71069190

Description

Other : Unwrought: Other

Tariff HSN

71069210

Description

Other : Semi-manufactured : Sheets, plates, strips, tubes and pipes

Tariff HSN

71069220

Description

Other : Semi-manufactured : Bar

Tariff HSN

71069290

Description

Other : Semi-manufactured : Other

India’s Trade Performance — HSN Sub-Chapter 7106 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

₹4,029 Cr

+667.11% vs FY 2023-24

0.1088% of India’s total exports

India’s Imports

FY 2024-25

₹40,929 Cr

−9.38% vs FY 2023-24

0.6712% of India’s total imports

Trade Balance

FY 2024-25

−₹36,900 Cr

Trade Deficit

Surplus rank #1196 of 1233 subchapters

% of Chapter 71

FY 2024-25

1.59%

Share of Chapter 71’s total exports in FY 2024-25

Import side: 5.44% of Chapter 71’s imports

Rank Within Chapter 71

FY 2024-25

#5 of 18

Position by export value among subchapters in Chapter 71

Import-side rank: #4 of 18

At a glance

91.45%

Export CAGR

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

#158

National Export Rank

of 1233 subchapters by export value, FY 2024-25

+4,889.71%

Peak Growth Year

FY 2020-21 · strongest single-year move

1.59%

Contribution to Ch. 71

Share of Chapter 71 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Sub-Chapter 7106

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 #748

Balance

−26,106.79

Exports

81.84 ₹ Cr

0.0036% share

— YoY

0.03% of Ch. 71

Imports

26,188.63 ₹ Cr

0.7293% share

— YoY

5.80% of Ch. 71

FY 2019-20 Exp. Rank #798

Balance

−19,093.78

Exports

68.01 ₹ Cr

0.0031% share

−16.90% YoY

0.03% of Ch. 71

Imports

19,161.79 ₹ Cr

0.5712% share

−26.83% YoY

4.98% of Ch. 71

FY 2020-21 Exp. Rank #130

Balance

−2,566.78

Exports

3,393.50 ₹ Cr

0.1578% share

+4,889.71% YoY

1.76% of Ch. 71

Imports

5,960.28 ₹ Cr

0.2045% share

−68.90% YoY

1.47% of Ch. 71

FY 2021-22 Exp. Rank #552

Balance

−24,090.92

Exports

363.36 ₹ Cr

0.0116% share

−89.29% YoY

0.12% of Ch. 71

Imports

24,454.28 ₹ Cr

0.5350% share

+310.29% YoY

4.02% of Ch. 71

FY 2022-23 Exp. Rank #479

Balance

−41,663.36

Exports

573.73 ₹ Cr

0.0158% share

+57.90% YoY

0.19% of Ch. 71

Imports

42,237.09 ₹ Cr

0.7346% share

+72.72% YoY

7.13% of Ch. 71

FY 2023-24 Exp. Rank #507

Balance

−44,639.48

Exports

525.27 ₹ Cr

0.0145% share

−8.45% YoY

0.19% of Ch. 71

Imports

45,164.75 ₹ Cr

0.8042% share

+6.93% YoY

6.95% of Ch. 71

FY 2024-25 Exp. Rank #158

Balance

−36,899.52

Exports

4,029.42 ₹ Cr

0.1088% share

+667.11% YoY

1.59% of Ch. 71

Imports

40,928.94 ₹ Cr

0.6712% share

−9.38% YoY

5.44% of Ch. 71

CAGR · 7-Year

Exports

91.45% /yr

Imports

7.73% /yr

Consistently Deficit
Chapter 71 total

reference, FY 2024-25

Export

₹2,53,600.88 Cr

Import

₹7,52,091.61 Cr

Trade Balance

−4,98,490.73

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

Key Trade Insights: HSN Sub-Chapter 7106 Export-Import Analysis

Consistent Export Growth: 91.45% CAGR Over 7 Years

India's exports under HSN Sub-Chapter 7106 have grown at a compound annual rate of 91.45% over 7 fiscal years, rising from ₹81.84 Crore in FY 2018-19 to ₹4,029.42 Crore in FY 2024-25.

HSN Sub-Chapter 7106 Ranked #158 Among All 1233 Subchapters by Export Value

In FY 2024-25, HSN Sub-Chapter 7106 ranks #158 out of 1233 subchapters by total export value. Within Chapter 71, it ranks #5 of 18. By trade surplus, it ranks #1196 of 1233.

FY 2020-21 Was the Strongest Growth Year for HSN Sub-Chapter 7106 Exports

The strongest single-year export movement for HSN Sub-Chapter 7106 was recorded in FY 2020-21, when exports surged by 4,889.71% over the prior year.

India Records a Trade Deficit of ₹36,899.52 Crore in HSN Sub-Chapter 7106 Goods

In FY 2024-25, India's imports of ₹40,928.94 Cr exceeded exports of ₹4,029.42 Cr, resulting in a trade deficit of ₹36,899.52 Crore — ranking #1196 of 1233 by surplus magnitude.

Import Growth of 7.73% CAGR Signals Stable Import Dependency for Silver in various forms

India's imports under HSN Sub-Chapter 7106 have grown at 7.73% CAGR, reaching ₹40,928.94 Crore in FY 2024-25.

HSN Sub-Chapter 7106 Contributes 1.59% of Chapter 71 Exports — Ranked #5

Among the 18 subchapters under Chapter 71, HSN Sub-Chapter 7106 ranks #5 by export value — accounting for 1.59% of the chapter's total exports in FY 2024-25. On the import side, it holds 5.44% share (rank #4).

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Frequently Asked Questions

Clear answers to common queries about HSN Sub Chapter 7106 and GST compliance.

What products are classified under HSN 7106

It includes Silver in various forms

What are the e‑way bill and e‑invoice points while moving Silver in various forms?

Generate an e‑way bill when the consignment value exceeds ₹50,000, unless exempted for the transaction. E‑invoicing depends on turnover (AATO threshold as notified) for B2B supplies, not on the item itself.

Any import/export nuance for Silver in various forms?

Exports are zero‑rated (with or without payment of IGST) subject to LUT/refund conditions. Imports may attract customs duties in addition to GST. Keep HSN‑wise description consistent across invoice, shipping bill and BOE.

How are warranty replacements of Silver in various forms handled?

If replacement is without consideration under a pre‑agreed warranty, issue a delivery challan and reference the original invoice/contract. If consideration is charged, raise a tax invoice. Keep serial/lot details for traceability.

How do I bill a kit or combo that includes Silver in various forms?

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.

What misclassification mistakes happen with Silver in various forms?

Using a broad or incorrect HSN, ignoring material/form (e.g., raw vs processed), or mixing goods and services on one line. Always match wording to the HSN Notes and keep a classification working paper.

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.

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