What products are classified under HSN 7116
It includes Precious stone articles
HSN Sub Chapter 7116 represents Precious stone articles under GST classification. This code helps businesses identify Precious stone articles correctly for billing, taxation, and trade. With HSN Sub Chapter 7116, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Precious stone articles.
GST Rate for Precious stone articles under HSN Code 7116. Understand Current Tax Rates, Exemptions, and Legal Classifications to Ensure Accurate Billing and GST Filing.
| Chapter No | HSN Code | HSN Description | New GST Rate | Old GST Rate |
|---|---|---|---|---|
| 71 | 7116 | Articles of natural or cultured pearls, precious or semi-precious stones(natural, synthetic or reconstructed) | 3% | 3% |
Chapter: 71
Description: Articles of natural or cultured pearls, precious or semi-precious stones(natural, synthetic or reconstructed)
Following Tariff HSN code falls under Precious stone articles:
| Tariff HSN | Description |
|---|---|
| Of natural or cultured pearls | |
| Of natural or cultured pearls | |
| Of precious or semi-precious stones (natural, synthetic or reconstructed) | |
| Of precious or semi-precious stones (natural, synthetic or reconstructed) |
Of natural or cultured pearls
Of natural or cultured pearls
Of precious or semi-precious stones (natural, synthetic or reconstructed)
Of precious or semi-precious stones (natural, synthetic or reconstructed)
| Order Number | Description |
|---|---|
| Pooja Enterprise(Nishith Vipinchandra Shah) (AAAR (Appellate Authority For Advance Ruling), Gujarat) |
Pooja Enterprise(Nishith Vipinchandra Shah) (AAAR (Appellate Authority For Advance Ruling), Gujarat)
It includes Precious stone articles
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.
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.
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.
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.
Include HSN, exact description, pack size/grade, quantity, and if pre‑packaged & labelled. Maintain purchase specs, test reports (where relevant), and job‑work challans for audit trail.
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.