HSN Code 7103: Precious or semi-precious stones (rubies, emeralds)
HSN code 7103 classifies precious or semi-precious stones (rubies, emeralds) under India's GST system. GST rate: 3%.
GST Rate Breakdown
- GST Rate: 3%
- CGST + SGST (intra-state): 1.5% + 1.5%
- IGST (inter-state): 3%
Rate reflects the GST 2.0 structure effective 22 September 2025 (slabs 0%, 5%, 18%, 40%). Some items vary by price or type, so confirm the current rate on the official GST portal before invoicing.
The 3% slab covers daily-use items and essentials
The 3% slab covers daily-use items and essentials. Precious or semi-precious stones (rubies, emeralds) sits in this bracket, keeping prices low for consumers. Full ITC available.
Sample Calculation for Precious or semi-precious stones (rubies, emeralds)
- Taxable value: ₹10,000
- GST (3%): ₹300
- Intra-state: ₹150 CGST + ₹150 SGST
- Inter-state: ₹300 IGST
- Total: ₹10,300
When to Use HSN Code 7103
Use HSN code 7103 on every tax invoice for precious or semi-precious stones (rubies, emeralds). Businesses above ₹5 crore turnover must use the full 6-digit code. E-invoicing requires HSN/SAC on every line item.
FAQs about HSN 7103
What is HSN code 7103?
HSN code 7103 classifies precious or semi-precious stones (rubies, emeralds) under India's GST system. The applicable GST rate is 3%.
What is the GST rate for Precious or semi-precious stones (rubies, emeralds)?
Precious or semi-precious stones (rubies, emeralds) attracts 3% GST. For intra-state sales: 1.5% CGST + 1.5% SGST. For inter-state: 3% IGST.
Is Precious or semi-precious stones (rubies, emeralds) exempt from GST?
No. Precious or semi-precious stones (rubies, emeralds) attracts 3% GST on every taxable sale.