It's from the Mauryan empire, depending how well the set of punchmarks it legible it can be assigned to a specific period/rules, have a look at http://coinindia.com/galleries-maurya.html which covers some coins of that series.
Correct, it's a silver "karshapana" from the Mauryan Empire. I think yours is of the type labelled "GH 574". The coins were issued circa 300-100 BC. We don't know precise chronologies for the different types.
I moved your thread to the Ancients section; our ancients experts might be able to add more details.
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