About HSN Code 71031024
HSN Code 71031024 covers Precious Stones (other Than Diamonds) and Semiprecious 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 - Unworked or Simply Sawn or Roughly Shaped: Semi-precious Stones: Green Aventurine and attracts a GST rate of 0.25%. For intra-state supplies, this is split as 0.125% CGST + 0.125% SGST. For inter-state supplies, 0.25% IGST is charged.
How to Use HSN Code 71031024 on GST Invoices
- Include the HSN code 71031024 on every GST invoice for precious stones (other than diamonds) and semiprecious 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 - unworked or simply sawn or roughly shaped: semi-precious stones: green aventurine
- Businesses with turnover above ₹5 crore must use 6-digit HSN codes
- Turnover between ₹1.5–5 crore: 4-digit codes are sufficient
- The HSN code must match the product/service description on your invoice
- Incorrect HSN codes can lead to GST notices and ITC mismatches
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