Under the GST regime, HSN Code 71051020 classifies Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104 within Chapter 71 – Natural Or Cultured Pearls, P. This code is essential for businesses to correctly calculate and remit taxes on Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104. The applicable rates are CGST at 0.0013, SGST/UTGST at 0.0013 for within-state sales, and IGST at 0.0025 for interstate supplies. Goods are quantified using N.a.
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 71051020
The taxation of Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104 under HSN Code 71051020 depends on supply location. Intrastate transactions require CGST at 0.0013 and SGST/UTGST at 0.0013. Interstate supplies are charged IGST at 0.0025. Invoices should consistently use N.a for Natural Or Cultured Pearls, P goods under Chapter 71.
Who Should Use HSN Code 71051020?
Every entity transacting in Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104 must quote HSN Code 71051020 on invoices. This includes traders, distributors, and e-commerce sellers operating under Natural Or Cultured Pearls, P. Chapter 71 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Commencing trade in Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104? Secure GST registration to handle taxes on HSN 71051020 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
Correct HSN Code 71051020 application for Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104 ensures smooth input credit utilization and assessment processes. Track 0.0013, 0.0013, and 0.0025 rate changes for Chapter 71 – Natural Or Cultured Pearls, P through official notifications for continuous compliance.
Frequently Asked Questions (FAQs)
Which chapter does HSN Code 71051020 belong to?
HSN Code 71051020 falls under Chapter 71 – Natural Or Cultured Pearls, P in the GST tariff schedule. This chapter covers various goods including Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104.
Is IGST applicable on Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104?
Yes, IGST at 0.0025 is applicable when Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104 is supplied interstate or imported. For local sales within a state, CGST at 0.0013 and SGST/UTGST at 0.0013 apply instead.
Can e-commerce sellers use HSN Code 71051020?
Yes, e-commerce sellers dealing in Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Of Diamond: Of Heading 7104 must use HSN 71051020 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.
