The HSN (Harmonized System of Nomenclature) code for silver bullion is 7106. This code includes silver in various forms.
Here's a breakdown:
- 71: Natural or cultured pearls, precious or
semi-precious stones, precious metals, metals clad with precious metal,
and articles thereof; imitation jewellery; coin
- 06: Silver (including silver plated with
gold or platinum), unwrought or in semi-manufactured forms, or in powder
form
Specifically, silver bullion is classified
under:
- 7106.92: Unwrought silver
For GST purposes in India, the GST rate for
silver bullion classified under HSN code 7106.92 is generally 3%.
