Within Chapter 71 – Natural Or Cultured Pearls, P, HSN Code 71059000 serves as the official classification for Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other. This code determines tax rates and compliance obligations for all entities trading in Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other. CGST applies at 0.015, SGST/UTGST at 0.015 for local transactions, and IGST at 0.03 for interstate supplies. Measurement is standardized in c/k.
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 71059000
Tax liability for Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other under HSN 71059000 varies by transaction geography. CGST at 0.015 combined with SGST/UTGST at 0.015 applies to local sales. Interstate movement attracts IGST at 0.03. All billing for Chapter 71 – Natural Or Cultured Pearls, P products must use c/k.
Who Should Use HSN Code 71059000?
Any business engaged in supplying Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other must apply HSN 71059000 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
Starting a business involving Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other? GST registration is mandatory for collecting and remitting taxes on HSN 71059000 goods. Companies planning international trade within Natural Or Cultured Pearls, P must obtain an Import Export Code. Exporters need AD Code registration for receiving foreign payments. New entrepreneurs should complete company registration before pursuing trade-specific approvals.
Why Correct Classification Matters
Accurate application of HSN Code 71059000 for Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 71 – Natural Or Cultured Pearls, P should monitor rate updates (0.015, 0.015, 0.03) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 71059000 should I mention on invoices?
The number of HSN digits depends on your annual turnover. Businesses with turnover above Rs 5 crore must mention 6 digits, while others may use 4 digits. Always use the complete HSN 71059000 for accurate classification of Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other.
Can I claim input tax credit on Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other purchases?
Yes, registered businesses can claim input tax credit on Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other purchases made under HSN 71059000. Ensure your supplier mentions correct HSN code and GST rates (0.015, 0.015) on the invoice.
What is the difference between CGST and IGST for HSN 71059000?
CGST at 0.015 plus SGST/UTGST at 0.015 applies when Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other is sold within the same state. IGST at 0.03 is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other domestically?
No, Import Export Code is only required if you plan to import or export Dust And Powder Of Natural Or Synthetic Precious Or Semi-Precious Stones - Other internationally. For domestic trade within Natural Or Cultured Pearls, P, GST registration is sufficient.
