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HSN Code - 7103 : PRECIOUS STONES (OTHER THAN DIAMONDS) AND SEMI-PRECIOUS STONES, WHETHER OR NOT WORKED OR GRADED BUT NOT STRUNG, MOUNTED OR SET; UNGRADED PRECIOUS STONES (OTHER THAN DIAMONDS) AND SEMI-PRECIOUS STONES, TEMPORARILY STRUNG FOR CONVENIENCE OF TRANSPORT
| HSN CODE | Description | Policy |
|---|---|---|
| 7103 | PRECIOUS STONES (OTHER THAN DIAMONDS) AND SEMI-PRECIOUS STONES, WHETHER OR NOT WORKED OR GRADED BUT NOT STRUNG, MOUNTED OR SET; UNGRADED PRECIOUS STONES (OTHER THAN DIAMONDS) AND SEMI-PRECIOUS STONES, TEMPORARILY STRUNG FOR CONVENIENCE OF TRANSPORT | |
| 710310 | Precious stones | |
| 71031011 | EMERALS,UNCUT | Free |
| 71031012 | RUBY AND SAPPHIRE,UNCUT | Free |
| 71031019 | OTHR PRCS STONE(E.G.AQUAMARINE CHRISOBARYLE-TOPAZ ETC) UNCUT | Free |
| 71031021 | FELSPAR (MOON STONE)UNCUT | Free |
| 71031022 | GARNET UNCUT | Free |
| 71031023 | AGATE UNCUT | Free |
| 71031024 | GREEN AVENTURINE,UNCUT | Free |
| 71031029 | OTHER SEMI PRECIOUS STONE UNCUT | Free |
| 710391 | Otherwise worked | |
| 71039100 | OTHERWISE WRKD RUBIES SAPPHIRES AND EMERALS | Free |
| 710399 | Other | |
| 71039910 | FELSPAR (MOON STONE) CUT | Free |
| 71039920 | GARNET CUT | Free |
| 71039930 | AGATE CUT | Free |
| 71039940 | CHALOIDONY CUT | Free |
| 71039990 | OTHER STONE CUT(TOPAZ AQUAMARINE ETC) | Free |
Harmonised System of Nomenclature (HSN Codes) 7103 are used for the PRECIOUS STONES (OTHER THAN DIAMONDS) AND SEMI-PRECIOUS STONES, WHETHER OR NOT WORKED OR GRADED BUT NOT STRUNG, MOUNTED OR SET; UNGRADED PRECIOUS STONES (OTHER THAN DIAMONDS) AND SEMI-PRECIOUS STONES, TEMPORARILY STRUNG FOR CONVENIENCE OF TRANSPORT 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.
FAQs on HSN Code 7103
What is HSN Code 7103 used for?
HSN Code 7103 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 7103 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 7103?
The GST rate for HSN Code 7103 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 7103?
The import or export policy for HSN Code 7103 depends on DGFT and trade policy notifications. Businesses should verify the latest policy before cross-border trade.
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.