Official Classification

Under the Harmonized System of Nomenclature (HSN), the code 7103 specifically identifies precious stones (other than diamonds) and semi-precious stones, whether or not worked or graded but not strung, mounted or set; ungraded for the purpose of taxation and trade in Bharat. This ensures uniform classification across all Indian states and Union Territories.

Intra-State Split

CGST 0.125% + SGST 0.125%

Inter-State Split

IGST 0.25%

Compliance Check-list

✓Mention HSN 7103 on all Tax Invoices for precious stones (other than diamonds) and semi-precious stones, whether or not worked or graded but not strung, mounted or set; ungraded
✓Include in HSN-wise summary of GSTR-1 filings
✓Mandatory for E-way bill generation for goods above threshold
✓Ensure Input Tax Credit (ITC) matches this classification

✨ AI Compliance Insight

Expert Advice for 7103

"Classifying precious stones (other than diamonds) and semi-precious stones, whether or not worked or graded but not strung, mounted or set; ungraded correctly is critical to avoid litigation. While the base rate is 0.25%, always check for anti-dumping duties if importing, especially under the Gems & Jewellery category. AasanKhata automatically monitors these shifts for you."