Silver HSN Code
GST rates and HSN code for Silver.
| Chapter | Description | HSN Code | Rate (%) | CESS (%) | Effective Date | Rate Revision |
|---|---|---|---|---|---|---|
| Clocks and watches and parts thereof | Watch Straps, Watch Bands And Watch Bracelets, And Parts Thereof Of Base Metal, Whether Or Not Gold- Or Silverplated:Parts | 91132010 | 18% | – | 15/11/2017 | – |
| Of Base Metal, Whether Or Not Gold- Or Silver-Plated | 911320 | 18% | – | 15/11/2017 | – | |
| Watch Cases And Parts Thereof Cases Of Base Metal, Whether Or Not Gold- Or Silver-Plated | 91112000 | 18% | – | 15/11/2017 | – | |
| Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | Primary Cells And Primary Batteries Silver Oxide | 85064000 | 18% | – | 15/11/2017 | – |
| Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewelry; coin | 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 | – | |
| Articles Of Goldsmiths Or Silversmiths Wares 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 | 7114 | 3% | – | 01/07/2017 | – | |
| Base Metals Clad With Silver, Not Further Worked Than Semi-Manufactured | 7107 | 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 | – | |
| Articles Of Goldsmiths Or Silversmiths Wares 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 Silver, Whether Or Not Plated Or Clad With Precious Metal:Par | 71141120 | 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 Silver, Whether Or Not Plated Or Clad With Other Precious Metal: Parts | 71131190 | 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 : Parts | 71142030 | 3% | – | 01/07/2017 | – | |
| Inorganic chemicals, organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive | Colloidal Precious Metals; Inorganic Or Organic Compounds Of Precious Metals, Whether Or Not Chemically Defined; Amalgams Of Precious Metals – Silver Compounds : Silver Nitrate | 28432100 | 18% | – | 01/07/2017 | – |
| Copper and articles thereof | Articles Of Copper Alloys Electro-Plated With Nickel-Silver | 74198020 | 18% | – | – | – |
| Copper Wire – Of Copper Alloys : Of Copper-Nickel Base Alloys (Cupro-Nickel) Or Copper-Nickel-Zinc Base Alloys (Nickel Silver) : Other Of Which The Maximum Cross-Sectional Dimension Exceeds 6 Mm | 74082220 | 18% | – | 01/07/2017 | – | |
| Copper Wire – Of Copper Alloys : Of Copper-Nickel Base Alloys (Cupro-Nickel) Or Copper-Nickel-Zinc Base Alloys (Nickel Silver) : Silver Plated Flattened Wire Of Copper (Lametta) | 74082210 | 18% | – | 01/07/2017 | – | |
| Photographic or cinematographic goods | Photographic Film In Rolls, Sensitised, Unexposed, Of Any Material Other Than Paper, Paper-Board Or Textiles; Instant Print Film In Rolls, Sensitised, Unexposed Other Film, Without Perforations, Of A Width Not Exceeding 105 Mm: Other, With Silver Halide E | 37023210 | 18% | – | 01/07/2017 | – |
| Ores, slag and ash | Precious Metal Ores And Concentrates Silver Ores And Concentrates | 26161000 | 5% | – | 01/07/2017 | – |
Understand the Silver HSN Code
Silver, a timeless precious metal, holds significant cultural, economic, and industrial value in India. From intricate jewelry and religious artifacts to industrial applications and investment vehicles, silver is a versatile commodity. For businesses and individuals involved in the trade of silver, understanding its Harmonized System of Nomenclature (HSN) code and the applicable Goods and Services Tax (GST) rate is fundamental for transparent transactions and regulatory compliance.
The HSN system provides a standardized method for classifying goods globally, streamlining customs procedures and taxation. For silver, its classification primarily depends on its form – whether it’s raw, semi-manufactured, or a finished article like jewelry or silverware.
Identifying the HSN Code for Silver
Silver, along with other precious metals, falls 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 for silver in its raw or semi-manufactured forms is:
- 7106: Silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form.
This broad heading encompasses various forms of silver:
- 71069100: Other: Unwrought. This HSN code is used for raw or unrefined silver, including silver grains.
- 71069290: Semi-manufactured: Other. This covers silver in forms like sheets, plates, strips, tubes, pipes, and bars.
For articles made of silver, such as jewelry or goldsmiths’/silversmiths’ wares, the HSN codes shift to other headings within Chapter 71:
- 7113: Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal.
- 711311: Of silver, whether or not plated or clad with other precious metal. This specifically covers silver jewelry.
- 7114: Articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal.
- 711411: Of silver, whether or not plated or clad with other precious metal. This applies to silver articles like idols, utensils, or decorative items.
It’s crucial to distinguish silver from other silver-related entries in the data that are not pure silver or silver articles:
- 91132010 (Watch Straps/Bands of Base Metal, Silver-plated): This refers to articles made of base metal but merely silver-plated, not primarily silver.
- 85064000 (Silver Oxide Primary Cells/Batteries): This refers to batteries where silver oxide is a component, not silver itself.
- 28432100 (Silver Nitrate): This is a silver compound, an inorganic chemical, not metallic silver.
- 7408, 7419 (Copper Alloys with Nickel-Silver): These refer to copper alloys that contain “nickel silver” (which does not contain actual silver but gets its name from its silvery appearance), not silver itself.
- 26161000 (Silver Ores and Concentrates): This covers the raw material from which silver is extracted, not refined silver.
- 37023210 (Photographic Film with Silver Halide): This is photographic film using silver halide, not silver in its metallic form.
Therefore, when dealing with actual silver, the primary HSN codes will be within Chapter 71, with 7106 for raw/semi-manufactured forms and 7113/7114 for finished articles.
Understanding the GST Rate for Silver
The Goods and Services Tax (GST) rate for silver and silver articles in India is generally 3% on the value of the metal. This rate applies to:
- Unwrought silver
- Semi-manufactured silver (like bars, sheets, pipes)
- Silver jewelry
- Silver coins (non-legal tender)
- Silver articles (goldsmiths’ or silversmiths’ wares)
However, there is an additional GST component on making charges for silver jewelry, which is 5%.
This means:
- If you purchase silver in unwrought or semi-manufactured form (e.g., silver bar), you pay 3% GST on its value.
- If you purchase silver jewelry, you pay 3% GST on the value of the silver in the jewelry, PLUS 5% GST on the making charges (if billed separately). If the making charges are included in a combined price, the entire value is typically taxed at 3%.
This simplified tax structure under GST replaced the previous complex system of excise duty and VAT, which varied by state. The 3% GST rate for silver has been effective since July 1, 2017.
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