What GST applies when an NRI buys from an Indian numismatic dealer?
When an NRI buys numismatic items from an Indian dealer while present in India, standard Indian GST applies: 5% on coins (HSN 9705) and 12% on notes (HSN 4907), charged by the dealer on the transaction. When an NRI buys remotely from India and the goods are exported to them abroad, the export of goods from India is zero-rated under GST — the dealer charges 0% GST on the export supply and can claim a refund of input tax credit. The NRI buyer's country may impose import duties on the received items.
Purchase in India (NRI physically present)
When an NRI visits India and buys numismatic items from a registered GST dealer — at an exhibition, from a shop, or directly — the transaction is a domestic supply within India. The dealer charges GST at the applicable rate: 5% on numismatic coins (HSN 9705), 12% on numismatic banknotes (HSN 4907). The NRI pays this GST as part of the purchase price. There is no GST exemption or refund mechanism for foreign visitors buying goods in India, unlike some countries' tourist VAT refund schemes. India does not have a tourist GST refund scheme.
Remote purchase — export to NRI abroad (zero-rated supply)
When an NRI places an order with an Indian numismatic dealer and the items are shipped to the NRI's foreign address, this is an export of goods from India. Under CGST Act Section 16(1)(a), the export of goods from India is a zero-rated supply — the dealer charges 0% GST on the invoice and can claim a refund of the input GST they paid on their own purchases. The NRI buyer receives the items with 0% Indian GST on the export invoice.
For this zero-rating to apply: the goods must actually leave India (evidenced by the Shipping Bill and Let Export Order from customs); the payment must be received in foreign exchange or in Indian rupees by the way of Specified Banking Channels (if from an NRE account, this is permissible); and the dealer must comply with the export documentation requirements under GST (furnishing shipping details in GSTR-1).
Import duties in the destination country
When the NRI receives Indian numismatic items at their foreign address, the destination country's customs authorities may assess import duty. In the UK, items of 'educational, scientific or cultural value' may qualify for reduced or zero customs duty — antique coins and notes (more than 100 years old) often fall within duty-free categories. In the USA, coins and currency more than 100 years old are typically duty-free. In the UAE and Singapore, import duties on collector items are generally very low or nil. The NRI buyer should check their destination country's tariff classification for numismatic items before ordering.
Laws & authorities referenced in this chapter
CGST Act 2017 — §16(1)(a) (zero-rated supply: export of goods is zero-rated; 0% GST on export invoice)
CGST Act 2017 — HSN 9705 (numismatic coins: 5% GST for domestic supply), HSN 4907 (numismatic notes: 12% GST for domestic supply)
IGST Act 2017 — §2(5) (export of goods: definition; conditions for zero-rating)
Customs Act 1962 — export documentation: Shipping Bill and Let Export Order for zero-rated GST claim
NRI buying in India (physically present): standard GST applies — 5% coins, 12% notes. No tourist GST refund scheme in India. NRI buying remotely (exported to foreign address): zero-rated export supply under CGST §16(1)(a) — 0% GST on export invoice; dealer claims input credit refund. Export documentation required: Shipping Bill + Let Export Order + foreign exchange receipt. Destination country import duty: coins/notes 100+ years old typically duty-free in UK, USA, UAE, Singapore — verify destination tariff before ordering.
This is educational content, not legal advice. For a specific situation, please consult a qualified legal professional. Excerpted from Currency, Coins & The Law by Mayank Agarwal, Part 30: NRIs & Indian Diaspora Collectors — FEMA, NRO/NRE Accounts, Export Limits, Repatriation, Inheritance by Foreign Nationals, Country-Specific Rules, GST on Export Sales.