---
title: "7114 HSN Code | HSN Code for Precious metal articles & wares in India"
description: "Know more about 7114 HSN Code with BUSY Accounting - HSN Tariff, GST Rates and case laws related to chapter 7114 covering Precious metal articles & wares."
canonical: "https://busy.in/hsn/sub-chapter-7114/"
---

# HSN Sub-chapter 7114: Precious metal articles & wares

Articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal

Part of [Chapter 71: Natural Pearls & Metals](https://busy.in/hsn/chapter-71/).

- Current GST rate: 3%
- Earlier GST rate: 3%

## HSN codes

| Code | Title |
| --- | --- |
| 71141110 | [Silver Articles of Goldsmiths or Silversmiths](https://busy.in/hsn/hsn-71141110/) |
| 71141120 | [Silver Parts of Goldsmiths or Silversmiths Wares](https://busy.in/hsn/hsn-71141120/) |
| 71141910 | [Gold Articles of Precious Metal](https://busy.in/hsn/hsn-71141910/) |
| 71141920 | [Platinum Articles of Precious Metal](https://busy.in/hsn/hsn-71141920/) |
| 71141930 | [Parts of Precious Metal Articles](https://busy.in/hsn/hsn-71141930/) |
| 71142010 | [Goldsmiths or Silversmiths' Articles of Base Metal Clad](https://busy.in/hsn/hsn-71142010/) |
| 71142020 | [Other Articles of Goldsmiths or Silversmiths Wares](https://busy.in/hsn/hsn-71142020/) |
| 71142030 | [Parts of Goldsmiths or Silversmiths Articles](https://busy.in/hsn/hsn-71142030/) |

## Frequently asked questions

### What products are classified under HSN 7114

It includes Precious metal articles & wares

### Any import/export nuance for Precious metal articles & wares?

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.

### Can I claim ITC on inputs and services used for Precious metal articles & wares?

If your outward supply of Precious metal articles & wares 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.

### Can reverse charge ever apply to transactions involving Precious metal articles & wares?

Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Precious metal articles & wares are forward charge. Check the current notifications for any special cases before deciding.

### Does packaging or branding change how GST applies to Precious metal articles & wares?

Yes. Many food/agri goods are treated differently when sold as pre‑packaged & labelled retail packs versus loose/open packs. If Precious metal articles & wares is sold in small pouches (e.g., 500 g) with an MRP and label, record that on the invoice. Loose bulk bags often follow a different treatment.

### If I repair and return Precious metal articles & wares, how should I charge GST?

Repair/service is a service supply (SAC). Parts and materials used are goods and may be billed separately with HSN. Mention both lines clearly to avoid mixing service and goods values.

## India's trade performance: HSN Sub-Chapter 7114 (FY 2024-25)

Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25).

- Exports: ₹158 Cr (−13.96% YoY) — 0.0043% of India's total exports
- Imports: ₹83 Cr (+100.39% YoY) — 0.0014% of India's total imports
- Trade balance: ₹75 Cr (Surplus); surplus rank #407 of 1233 sub-chapters
- Share of Chapter 71: 0.06% of its exports; import side 0.01%
- Rank within Chapter 71: #12 of 18 by export value; import-side #14

### Key metrics

- Export CAGR: -5.54% (FY 2018-19 to FY 2024-25, 7 fiscal years)
- National export rank: #752 of 1233 sub-chapters by export value (FY 2024-25)
- Peak growth year: +75.61% in FY 2021-22
- Contribution to Ch. 71: 0.06% of its exports (FY 2024-25)

## India export-import trade statistics: HSN Sub-Chapter 7114

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. 71 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Ch. 71 | Trade balance | Exp rank |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FY 2018-19 | 222.19 | 0.0097% | — | 0.08% | 144.31 | 0.0040% | — | 0.03% | +77.88 | #592 |
| FY 2019-20 | 133.26 | 0.0060% | −40.02% | 0.05% | 76.52 | 0.0023% | −46.98% | 0.02% | +56.74 | #668 |
| FY 2020-21 | 73.79 | 0.0034% | −44.63% | 0.04% | 17.74 | 0.0006% | −76.82% | 0.00% | +56.05 | #780 |
| FY 2021-22 | 129.58 | 0.0041% | +75.61% | 0.04% | 25.29 | 0.0006% | +42.56% | 0.00% | +104.29 | #739 |
| FY 2022-23 | 157.30 | 0.0043% | +21.39% | 0.05% | 515.28 | 0.0090% | +1,937.49% | 0.09% | −357.98 | #730 |
| FY 2023-24 | 183.40 | 0.0051% | +16.59% | 0.07% | 41.31 | 0.0007% | −91.98% | 0.01% | +142.09 | #710 |
| FY 2024-25 | 157.79 | 0.0043% | −13.96% | 0.06% | 82.78 | 0.0014% | +100.39% | 0.01% | +75.01 | #752 |

- CAGR (7-year): exports -5.54%/yr, imports -8.85%/yr (consistently Surplus)

## Key trade insights: HSN Sub-Chapter 7114 export-import analysis

### Export decline: -5.54% CAGR over 7 years

India's exports under HSN Sub-Chapter 7114 have declined at a compound annual rate of -5.54% over 7 fiscal years, falling from ₹222.19 Crore in FY 2018-19 to ₹157.79 Crore in FY 2024-25.

### HSN Sub-Chapter 7114 ranked #752 among all 1233 sub-chapters by export value

In FY 2024-25, HSN Sub-Chapter 7114 ranks #752 out of 1233 sub-chapters by total export value. Within Chapter 71, it ranks #12 of 18. By trade surplus, it ranks #407 of 1233.

### FY 2021-22 was the strongest growth year for HSN Sub-Chapter 7114 exports

The strongest single-year export movement for HSN Sub-Chapter 7114 was recorded in FY 2021-22, when exports surged by 75.61% over the prior year.

### India maintains a trade surplus of ₹75.01 Crore in HSN Sub-Chapter 7114 goods

In FY 2024-25, India's exports of ₹157.79 Cr exceeded imports of ₹82.78 Cr, resulting in a trade surplus of ₹75.01 Crore — ranking #407 of 1233 by surplus magnitude.

### Import growth of -8.85% CAGR signals stable import dependency for Precious metal articles & wares

India's imports under HSN Sub-Chapter 7114 have grown at -8.85% CAGR, reaching ₹82.78 Crore in FY 2024-25.

### HSN Sub-Chapter 7114 contributes 0.06% of Chapter 71 exports — ranked #12

Among the 18 sub-chapters under Chapter 71, HSN Sub-Chapter 7114 ranks #12 by export value — accounting for 0.06% of the chapter's total exports in FY 2024-25. On the import side, it holds 0.01% share (rank #14).

## Related Sub-Chapters in Chapter 71

Ranked by export value (FY 2024-25).

| Rank | HSN Sub-Chapter | Exports (FY 2024-25) |
| --- | --- | --- |
| #1 | [HSN Sub-Chapter 7102: Unworked Diamonds](https://busy.in/hsn/sub-chapter-7102/) | ₹1,16,388 Cr |
| #2 | [HSN Sub-Chapter 7113: Jewellery & parts of precious metals](https://busy.in/hsn/sub-chapter-7113/) | ₹1,06,341 Cr |
| #3 | [HSN Sub-Chapter 7104: Synthetic precious stones, unmounted](https://busy.in/hsn/sub-chapter-7104/) | ₹11,448 Cr |
| #4 | [HSN Sub-Chapter 7108: Gold in unwrought or semi-forms](https://busy.in/hsn/sub-chapter-7108/) | ₹7,854 Cr |
| #5 | [HSN Sub-Chapter 7106: Silver in various forms](https://busy.in/hsn/sub-chapter-7106/) | ₹4,029 Cr |
| #6 | [HSN Sub-Chapter 7103: Reconstructed precious stone](https://busy.in/hsn/sub-chapter-7103/) | ₹3,934 Cr |
| #7 | [HSN Sub-Chapter 7117: Imitation Jewelry](https://busy.in/hsn/sub-chapter-7117/) | ₹1,154 Cr |
| #8 | [HSN Sub-Chapter 7112: Precious metal scrap for recovery](https://busy.in/hsn/sub-chapter-7112/) | ₹1,000 Cr |
| #9 | [HSN Sub-Chapter 7110: Unwrought platinum](https://busy.in/hsn/sub-chapter-7110/) | ₹643 Cr |
| #10 | [HSN Sub-Chapter 7116: Precious stone articles](https://busy.in/hsn/sub-chapter-7116/) | ₹344 Cr |
| #12 | HSN Sub-Chapter 7114: Precious metal articles & wares (this hsn sub-chapter) | ₹158 Cr |

## Other sub-chapters

| Code | Title |
| --- | --- |
| 7101 | [Natural Pearls](https://busy.in/hsn/sub-chapter-7101/) |
| 7102 | [Unworked Diamonds](https://busy.in/hsn/sub-chapter-7102/) |
| 7103 | [Reconstructed precious stone](https://busy.in/hsn/sub-chapter-7103/) |
| 7104 | [Synthetic precious stones, unmounted](https://busy.in/hsn/sub-chapter-7104/) |
| 7105 | [Precious stone dust](https://busy.in/hsn/sub-chapter-7105/) |
| 7106 | [Silver in various forms](https://busy.in/hsn/sub-chapter-7106/) |
| 7107 | [Silver-clad metals](https://busy.in/hsn/sub-chapter-7107/) |
| 7108 | [Gold in unwrought or semi-forms](https://busy.in/hsn/sub-chapter-7108/) |
| 7109 | [Unprocessed staple fibres](https://busy.in/hsn/sub-chapter-7109/) |
| 7110 | [Unwrought platinum](https://busy.in/hsn/sub-chapter-7110/) |
| 7111 | [Platinum-clad metals](https://busy.in/hsn/sub-chapter-7111/) |
| 7112 | [Precious metal scrap for recovery](https://busy.in/hsn/sub-chapter-7112/) |
| 7113 | [Jewellery & parts of precious metals](https://busy.in/hsn/sub-chapter-7113/) |
| 7115 | [Precious Metal Items](https://busy.in/hsn/sub-chapter-7115/) |
| 7116 | [Precious stone articles](https://busy.in/hsn/sub-chapter-7116/) |
| 7117 | [Imitation Jewelry](https://busy.in/hsn/sub-chapter-7117/) |
| 7118 | [Coin](https://busy.in/hsn/sub-chapter-7118/) |