Chapter 71 of the GST framework covers Natural Or Cultured Pearls, P, and HSN Code 71069290 specifically identifies Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other. Tax rates applicable include CGST at 0.015, SGST/UTGST at 0.015, and IGST at 0.03 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 71069290
Goods classified as Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other under HSN 71069290 are taxed based on transaction type. Local sales attract CGST at 0.015 plus SGST/UTGST at 0.015. For supplies crossing state boundaries, IGST at 0.03 applies. Documentation must reflect kg. as the measurement standard for Chapter 71 – Natural Or Cultured Pearls, P products.
Who Should Use HSN Code 71069290?
Traders, manufacturers, and importers of Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other are required to mention HSN Code 71069290 on all GST documents. This Natural Or Cultured Pearls, P classification under Chapter 71 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Entering the Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other market requires essential registrations. GST registration enables legal tax collection on HSN 71069290 goods. For cross-border trade in Natural Or Cultured Pearls, P items, secure an Import Export Code. Exporters additionally need AD Code registration for bank processing. Begin with company registration to establish your business entity.
Why Correct Classification Matters
Accurate HSN Code 71069290 usage for Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other simplifies reconciliation and protects against penalties. Keep current with 0.015, 0.015, and 0.03 updates for Chapter 71 – Natural Or Cultured Pearls, P to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 71069290 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 71069290 for accurate classification of Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other.
Can I claim input tax credit on Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other purchases?
Yes, registered businesses can claim input tax credit on Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other purchases made under HSN 71069290. 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 71069290?
CGST at 0.015 plus SGST/UTGST at 0.015 applies when Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : 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 Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other domestically?
No, Import Export Code is only required if you plan to import or export Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other internationally. For domestic trade within Natural Or Cultured Pearls, P, GST registration is sufficient.
