Chapter 71 of the GST framework covers Natural Or Cultured Pearls, P, and HSN Code 71132000 specifically identifies Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal. 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 71132000
The tax structure for Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal under HSN Code 71132000 follows a dual taxation model. CGST is levied at 0.015 and SGST/UTGST at 0.015 for intrastate sales. Interstate transactions attract IGST at 0.03. All invoices must record quantities in kg. as the standard measurement for goods under Chapter 71 – Natural Or Cultured Pearls, P.
Who Should Use HSN Code 71132000?
All businesses supplying Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal are obligated to use HSN 71132000 on tax invoices. From producers to retailers within Natural Or Cultured Pearls, P, Chapter 71 classification ensures uniform tax treatment. This requirement applies regardless of turnover or business model.
Business Registration Requirements
Commencing trade in Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal? Secure GST registration to handle taxes on HSN 71132000 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 71132000 accurately for Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal avoids compliance issues and facilitates credit claims. Monitor changes to 0.015, 0.015, and 0.03 rates for Chapter 71 – Natural Or Cultured Pearls, P to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
What is HSN Code 71132000 used for?
HSN Code 71132000 is used to classify Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal under Chapter 71 – Natural Or Cultured Pearls, P for GST purposes. Businesses must mention this code on invoices to ensure correct tax calculation and compliance.
What are the GST rates applicable on HSN 71132000?
For Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal, CGST applies at 0.015 and SGST/UTGST at 0.015 for intrastate supplies. Interstate transactions are taxed under IGST at 0.03.
Do I need GST registration to trade in Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal?
Yes, GST registration is mandatory for businesses dealing in Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal under HSN 71132000. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal - Of Base Metal Clad With Precious Metal?
For importing goods under Natural Or Cultured Pearls, P, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
