7101
PEARLS, NATURAL OR CULTURED, WHETHER OR NOT WORKED OR GRADED BUT NOT STRUNG, MOUNTED OR SET; PEARLS, NATURAL OR CULTURED, TEMPORARILY STRUNG FOR CONVENIENCE OF TRANSPORT
Tax Calculator for 7101
E-Way Bill Rules
For pearls, natural or cultured, whether or not worked or graded but not strung, mounted or set; pearls, natural or cultured, temporarily strung for convenience of transport, the E-Way Bill threshold is ₹50,000. Since the rate is 3%, you must generate a bill if the Taxable Value exceeds ₹48,543.
Example Calculation
- Base Value: ₹48,543
- + GST (3%): ₹1,456.29
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Compliance & Validation
HSN 7101 falls under Chapter 71. It is mandatory to mention this code on invoices if your annual turnover exceeds ₹5 Crore. For turnover below ₹5 Crore, mentioning the 4-digit code (7101) is sufficient for B2B invoices.
Ensure that you charge 1.5% CGST and 1.5% SGST for intra-state supplies of pearls, natural or cultured, whether or not worked or graded but not strung, mounted or set; pearls, natural or cultured, temporarily strung for convenience of transport. For inter-state supplies, the full 3% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 7101?
The GST rate for HSN Code 7101 (PEARLS, NATURAL OR CULTURED, WHETHER OR NOT WORKED OR GRADED BUT NOT STRUNG, MOUNTED OR SET; PEARLS, NATURAL OR CULTURED, TEMPORARILY STRUNG FOR CONVENIENCE OF TRANSPORT) is 3%.
Q: Is HSN 7101 eligible for Input Tax Credit (ITC)?
ITC availability is classified as 'check'. Generally, businesses can claim ITC unless used for personal consumption or blocked under Section 17(5).
Q: How to calculate GST amount for PEARLS, NATURAL OR CULTURED, WHETHER OR NOT WORKED OR GRADED BUT NOT STRUNG, MOUNTED OR SET; PEARLS, NATURAL OR CULTURED, TEMPORARILY STRUNG FOR CONVENIENCE OF TRANSPORT?
Multiply the taxable value by 0.03. For ₹1000 value, GST is ₹30.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.