Chapter 71 of the GST framework covers Natural Or Cultured Pearls, P, and HSN Code 71031061 specifically identifies Prehnite for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Prehnite. Tax rates applicable include CGST at 0.13%, SGST/UTGST at 0.13%, and IGST at 0.25% for interstate movements. The standard unit of measurement is kg..

HSN Codes under Chapter 71 – Natural Or Cultured Pearls, P

Below are related HSN codes from Chapter 71 – Natural Or Cultured Pearls, P for your reference:

Chapter HSN Code Description CGST SGST/UTGST IGST
Natural Or Cultured Pearls, P... 71011010 Pearls, Natural Or Cultured, Whether Or Not Worked... 1.50% 1.50% 3.00%
Natural Or Cultured Pearls, P... 71011020 Pearls, Natural Or Cultured, Whether Or Not Worked... 0.015 0.015 0.03
Natural Or Cultured Pearls, P... 71012100 Pearls, Natural Or Cultured, Whether Or Not Worked... 0.015 0.015 0.03
Natural Or Cultured Pearls, P... 71012200 Pearls, Natural Or Cultured, Whether Or Not Worked... 0.015 0.015 0.03
Natural Or Cultured Pearls, P... 71021000 Diamonds, Whether Or Not Worked, But Not Mounted O... 0 0 0
Natural Or Cultured Pearls, P... 71022110 21 Diamonds, Whether Or Not Worked, But Not Mounte... 0.00% 0.00% 0.00%
Natural Or Cultured Pearls, P... 71022120 21 Diamonds, Whether Or Not Worked, But Not Mounte... 0 0 0
Natural Or Cultured Pearls, P... 71022910 Diamonds, Whether Or Not Worked, But Not Mounted O... 0.00% 0.00% 0.00%
Natural Or Cultured Pearls, P... 71022990 Diamonds, Whether Or Not Worked, But Not Mounted O... 0 0 0
Natural Or Cultured Pearls, P... 71023100 Diamonds, Whether Or Not Worked, But Not Mounted O... 0 0 0

GST Rates for HSN 71031061

Goods classified as Prehnite under HSN 71031061 are taxed based on transaction type. Local sales attract CGST at 0.13% plus SGST/UTGST at 0.13%. For supplies crossing state boundaries, IGST at 0.25% applies. Documentation must reflect kg. as the measurement standard for Chapter 71 – Natural Or Cultured Pearls, P products.

Who Should Use HSN Code 71031061?

Any business engaged in supplying Prehnite must apply HSN 71031061 on invoices. The Natural Or Cultured Pearls, P category under Chapter 71 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.

Business Registration Requirements

Commencing trade in Prehnite? Secure GST registration to handle taxes on HSN 71031061 classified goods. Businesses with international operations in Natural Or Cultured Pearls, P need an Import Export Code. Exporters require AD Code registration for foreign currency receipts. Start with company registration to formalize your business structure.

Why Correct Classification Matters

Using HSN Code 71031061 accurately for Prehnite avoids compliance issues and facilitates credit claims. Monitor changes to 0.13%, 0.13%, and 0.25% rates for Chapter 71 – Natural Or Cultured Pearls, P to maintain accurate filings and smooth business operations.

Frequently Asked Questions (FAQs)

Which chapter does HSN Code 71031061 belong to?

HSN Code 71031061 falls under Chapter 71 – Natural Or Cultured Pearls, P in the GST tariff schedule. This chapter covers various goods including Prehnite.

Is IGST applicable on Prehnite?

Yes, IGST at 0.25% is applicable when Prehnite is supplied interstate or imported. For local sales within a state, CGST at 0.13% and SGST/UTGST at 0.13% apply instead.

Can e-commerce sellers use HSN Code 71031061?

Yes, e-commerce sellers dealing in Prehnite must use HSN 71031061 on their invoices. This applies to all online platforms operating under Natural Or Cultured Pearls, P classification.

How do I start an import business for Natural Or Cultured Pearls, P goods?

To import goods under Natural Or Cultured Pearls, P, complete GST registration first, then obtain an Import Export Code from DGFT. Proper company registration provides the legal foundation for your import operations.

More HSN codes from Chapter 71

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