Boost Your B2B Sales with Getatoz
Get Listed FreeExplore HSN Code of thousands of goods.
HSN Code - 71022910 : Other (CRUSHED INDUSTRIAL DIAMONDS)
| HSN CODE | Description | Policy |
|---|---|---|
| 7102 | DIAMONDS, WHETHER OR NOT WORKED, BUT NOT MOUNTED OR SET | |
| 710229 | Other | |
| 71022910 | CRUSHED INDUSTRIAL DIAMONDS | Free |
Harmonised System of Nomenclature (HSN Codes) 71022910 are used for the CRUSHED INDUSTRIAL DIAMONDS products under Goods and Service Tax classification.
India was originally using 6 digit HSN codes to classify commodities but later two more digits were added to make the codes more precise, resulting in an 8 digit classification.
Understanding HSN Code 71022910
First two digits (71) represent the chapter number which is Chapter 71 - Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal and articles thereof; imitation jewellery; coin.
Next two digits (02) represent the heading number which is DIAMONDS, WHETHER OR NOT WORKED, BUT NOT MOUNTED OR SET
Next two digits (29) represent the product code which is Other
Last two digits (10) are for final or deeper classification which is CRUSHED INDUSTRIAL DIAMONDS
All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.
FAQs on HSN Code 71022910
What is HSN Code 71022910 used for?
HSN Code 71022910 is used to classify goods under GST for invoicing, taxation, import, and export. Businesses use this code to correctly identify products while filing GST returns and trade documents.
Is HSN Code 71022910 mandatory for GST invoices?
Yes. HSN codes are mandatory on GST invoices for most businesses, especially for B2B transactions, exports, and imports. The level of digits required depends on turnover and transaction type.
What is the GST rate for HSN Code 71022910?
The GST rate for HSN Code 71022910 depends on the product specification and the latest GST notifications. Businesses should verify the applicable rate from CBIC notifications or consult a tax professional before invoicing.
What is the import or export policy for HSN Code 71022910?
As per current trade policy, HSN Code 71022910 falls under "Free" category. Import or export may be subject to specific conditions or approvals.
What is the difference between HSN Code and SAC Code?
HSN codes are used for goods or products, while SAC codes are used for services. Businesses dealing in both goods and services must use the correct code type for GST compliance.