Gold coin HSN Code
GST rates and HSN code for Gold coin.
| Chapter | Description | HSN Code | Rate (%) | CESS (%) | Effective Date | Rate Revision |
|---|---|---|---|---|---|---|
| Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewelry; <strong>coin</strong> | Coin – Coin (Other Than Gold Coin), Not Being Legal Tender | 71181000 | 3% | – | 01/07/2017 | – |
| Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal – Of Precious Metal Whether Or Not Plated Or Clad With Precious Metal – Of Other Precious Metal, Whether Or Not Plated Or Clad With Precious Metal: Of Gold, Un | 71131910 | 3% | – | 01/07/2017 | – | |
| Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Non-Monetary | 7108 | 3% | – | 01/07/2017 | – | |
| Base Metals Or Silver, Clad With Gold, Not Further Worked Than Semi-Manufactured | 71090000 | 3% | – | 01/07/2017 | – | |
| Base Metals, Silver Or Gold, Clad With Platinum, Not Further Worked Than Semimanufactured | 71110000 | 3% | – | 01/07/2017 | – | |
| Base Metals, Silver Or Gold, Clad With Platinum, Not Further Worked Than Semimanufactured | 7111 | 3% | – | 01/07/2017 | – | |
| Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Other : Unwrought | 71069100 | 3% | – | 01/07/2017 | – | |
| Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Non-Monetary : Other Semi-Manufactured Forms | 71081300 | 3% | – | 01/07/2017 | – | |
| Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal – Of Precious Metal Whether Or Not Plated Or Clad With Precious Metal – Of Other Precious Metal, Whether Or Not Plated Or Clad With Precious Metal: Of Gold, Se | 71131920 | 3% | – | 01/07/2017 | – | |
| Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Other | 71069290 | 3% | – | 01/07/2017 | – | |
| Waste And Scrap Of Precious Metal Or Of Metal Clad With Precious Metal; Other Waste And Scrap Containing Precious Metal Or Precious Metal Compounds, Of A Kind Used Principally For The Recovery Of Precious Metal – Other : Other: Sweepings Containing Gold O | 71129920 | 3% | – | 01/07/2017 | – | |
| Articles Of Jewellery And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal – Of Precious Metal Whether Or Not Plated Or Clad With Precious Metal – Of Other Precious Metal, Whether Or Not Plated Or Clad With Precious Metal: Of Gold, Se | 71131930 | 3% | – | 01/07/2017 | – | |
| Articles Of Goldsmiths Or Silversmiths Wares And Parts Thereof, Of Precious Metal Or Of Metal Clad With Precious Metal – Of Base Metal Clad With Precious Metal : Articles Clad With Gold | 71142010 | 3% | – | 01/07/2017 | – | |
| Other Articles Of Precious Metal Or Of Metal Clad With Precious Metal – Other: Spinnerets Made Mainly Of Gold | 71159020 | 3% | – | 01/07/2017 | – | |
| Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Non-Monetary : Other Unwrought Forms | 71081200 | 3% | – | 01/07/2017 | – | |
| Base Metals Or Silver, Clad With Gold, Not Further Worked Than Semi-Manufactured | 7109 | 3% | – | 01/07/2017 | – | |
| Waste And Scrap Of Precious Metal Or Of Metal Clad With Precious Metal; Other Waste And Scrap Containing Precious Metal Or Precious Metal Compounds, Of A Kind Used Principally For The Recovery Of Precious Metal – Other : Of Gold, Including Metal Clad With | 71129100 | 3% | – | 01/07/2017 | – | |
| Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Non-Monetary : Powder | 71081100 | 3% | – | 01/07/2017 | – | |
| Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Monetary | 71082000 | 3% | – | 01/07/2017 | – | |
| Silver (Including Silver Plated With Gold Or Platinum), Unwrought Or In Semi-Manufactured Forms, Or In Powder Form Semi-Manufactured : Sheets, Plates, Strips, Tubes And Pipes | 71069210 | 3% | – | 01/07/2017 | – |
The Gold Coin HSN Code and GST in India
Gold coins have long been cherished as symbols of wealth, auspiciousness, and investment. In India, where gold holds immense cultural and economic significance, understanding the taxation and classification of gold coins is crucial for both buyers and sellers. The Harmonized System of Nomenclature (HSN) provides a structured way to classify goods, ensuring uniformity in trade and tax applications.
Let’s delve into the specific HSN codes for gold coins and their corresponding Goods and Services Tax (GST) implications.
The Gold Coin HSN Code
Gold coins, along with other precious metals, fall under Chapter 71: Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewelry; coin.
Within this chapter, the primary HSN code specifically for “Coin” is 7118.
However, it’s essential to differentiate between different types of coins, particularly:
- 71181000: Coin (Other Than Gold Coin), Not Being Legal Tender. This code is explicitly for coins made of metals other than gold, which are not legal tender.
- 71082000: Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Monetary. This is the crucial HSN code for gold coins that are considered “monetary gold.” Monetary gold, in HSN terms, generally refers to gold owned by monetary authorities and held as reserve assets, or gold in bullion form (coins, ingots, bars) with a high purity (at least 99.5%) when held by central banks or similar institutions.
For the gold coins that individuals or jewelers typically buy for investment or gifting purposes, which are not legal tender (i.e., not issued by a central bank for circulation as currency), they are largely treated under the broader categories of gold in unwrought or semi-manufactured forms. While some sources might refer to them simply as “gold coins,” for HSN purposes, they often align with:
- 71081300: Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Non-Monetary : Other Semi-Manufactured Forms. This is a common classification for standard gold coins available for retail purchase, as they are essentially a “semi-manufactured form” of gold for non-monetary purposes.
- 7108: The general heading for “Gold (Including Gold Plated With Platinum) Unwrought Or In Semi-Manufactured Forms, Or In Powder Form – Non-Monetary” also encompasses various forms of gold not used as official currency.
Therefore, while HSN 7118 is for “coins,” for gold coins specifically, especially those purchased as an investment rather than legal tender, HSN 7108 and its sub-categories (like 71081300 for non-monetary semi-manufactured forms, or 71082000 for monetary gold if applicable to central bank gold) are generally applied.
Understanding the GST Rate on Gold Coins
Regardless of the specific HSN code under which a gold coin is classified (whether 7108 for gold in semi-manufactured forms or 7118 for coins), the Goods and Services Tax (GST) rate for gold coins in India is consistently 3%. This 3% GST applies to the value of the gold itself.
This rate has been effective since July 1, 2017, when GST was first implemented. It is important to note that this 3% GST is levied on the total value of the gold coin. If there are any “making charges” associated with minting or preparing the coin (though less common for standard investment coins than for jewelry), those making charges attract a separate GST rate of 5%. However, for pure gold coins, it’s primarily the 3% on the metal value that applies.
This consistent 3% rate ensures clarity for businesses and consumers in the gold market.
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