Hallmarking of Gold Jewellery Made Mandatory

 
CONNAUGHT PLACE, India - June 18, 2021 - PRLog -- Government of India has made Hallmarking of Gold Jewellery mandatory which has come into force from 16th June, 2021. Mandatory hallmarking has initially started with 256 districts of the country which have assaying and hallmarking centres. Under Hallmarking scheme of BIS, Jewellers are registered for selling hallmarked jewellery and recognise testing and hallmarking centres.
BIS (Hallmarking) Regulations were implemented from 14.06.2018. Hallmarking will enable Consumers to make a right choice and save them from unnecessary confusion while buying gold.
The Hallmarking of jewellery has been required to enhance credibility of gold Jewellery and Customer satisfaction through third party assurance for marked purity/fineness of gold, consumer protection. This will also help develop India as a leading gold market centre in the World.
Jewellers with annual turnover upto Rs. 40 lac will be exempted from mandatory Hallmarking. Export and re-import of jewellery as per Trade Policy of Government of India - Jewellery for international exhibitions, jewellery for government approved B2B domestic exhibitions is exempted from mandatory Hallmarking. Watches, fountain pens and special types of jewellery will be exempted from Hallmarking.
Registration of jewellers will be one-time and there will be no fees charged for registration. Any manufacturer, importer, wholesaler, distributor or retailer engaged in selling precious metal articles has to mandatorily get registered with BIS. However, artisans or manufacturers who are manufacturing the gold jewellery on job work basis for the jewellers and are not directly related to sale to anyone are exempted for registration.
Hallmark shall be done at the first point of sale which may be manufacturer, whole-seller, distributor or retailer. Alteration in the Hallmarked jewellery up to 2 grams of increase or decrease to be allowed with responsibility of purity on the jeweller.
There has always been a high demand from jewellers to increase the grades of gold purity for hallmarking. Considering this, gold of Additional carats i.e. 20, 23 and 24 will also be allowed for Hallmarking.
It was clarified that old unhallmarked jewellery available in households can be sold to jewellers. Jewellers can continue to buy old gold jewellery without hallmark from consumer. Old jewellery can be got hallmarked as it is, if feasible by the jeweller or after melting and making new jewellery. A committee constituting of representatives of all stakeholders, revenue officials and legal experts will be formed to look into the issues that may possibly emerge during the scheme implementation.
There has been 25% increase every year in A&H centres and the number of A&H centres have increased from 454 to 943 in the last five years. At present 943 Assaying and Hallmarking centres are operative. Out of this 84 AHCs have been setup under Govt. subsidy scheme in various Districts.

For more information https://bis.gov.in/

Contact
Arun Kumar
***@bis.gov.in
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Tags:Gold
Industry:Jewelry
Location:Connaught Place - Delhi - India
Subject:Services
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