71129100
OF GOLD, INCLUDING METAL CLAD WITH GOLD BUT EXCLUDING SWEEPINGS CONTAINING OTHER PRECIOUS METALS
Tax Calculator for 71129100
E-Way Bill Rules
For of gold, including metal clad with gold but excluding sweepings containing other precious metals, 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 71129100 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 (7112) is sufficient for B2B invoices.
Ensure that you charge 1.5% CGST and 1.5% SGST for intra-state supplies of of gold, including metal clad with gold but excluding sweepings containing other precious metals. For inter-state supplies, the full 3% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 71129100?
The GST rate for HSN Code 71129100 (OF GOLD, INCLUDING METAL CLAD WITH GOLD BUT EXCLUDING SWEEPINGS CONTAINING OTHER PRECIOUS METALS) is 3%.
Q: Is HSN 71129100 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 OF GOLD, INCLUDING METAL CLAD WITH GOLD BUT EXCLUDING SWEEPINGS CONTAINING OTHER PRECIOUS METALS?
Multiply the taxable value by 0.03. For ₹1000 value, GST is ₹30.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.