Hallmarking will enable consumers and jewellery buyers to make a right choice and save them from any unnecessary confusion while buying gold.
Buyers of gold jewellery will now have the assurance of buying pure gold. The government has made it mandatory for the jewellers to sell only hallmarked jewellery. The mandatory hallmarking of gold jewellery is coming into force from 16th June, 2021.
However, initially, hallmarking will be starting in the 256 districts of the country which have Assaying marking centres. Also, jewellers with annual turnover up to Rs 40 lakh will be exempted from mandatory hallmarking.
Under Hallmarking scheme of Bureau of Indian Standards, Jewellers are registered for selling hallmarked jewellery and recognise testing and Hallmarking centres. The BIS (Hallmarking) Regulations, were implemented from 14.06.2018.
Here are a few things to keep an eye on as far as new hallmarking rules 2021 are concerned:
- Gold of Additional carats 20, 23 and 24 will also be allowed for Hall Marking.
- Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau will be exempted from Hall Marking.
- Jewellers can continue to buy back old gold jewellery without hallmark from consumer.
- In order to give adequate time to the manufacturers, wholesalers and retailers of Gold Jewellery, there would be no penalties till August end.
- Old jewellery can be got hallmarked as it is, if feasible by the jeweller or after melting and making new jewellery.
How to identify if you are buying hallmarked jewellery
There are 4 things to keep note of while buying hallmarked jewellery:
1. BIS Mark
2. Purity in carat and Fineness (any one)
a) 22K916 – Equal to 22 Carat
b) 18K750 – Equal to 18 Carat
c) 14K585 – Equal to 14 Carat
d) 20, 23 and 24 carat also to be hallmarked now
3. Identification Mark or Number of the Hallmarking Centre’s
4. Identification Mark or number of the Jeweller’s
Hallmarking will enable Consumers and Jewellery buyers to make a right choice and save them from any unnecessary confusion while buying gold. At present, only 30% of Indian Gold Jewellery is hallmarked. According to World Gold Council, India has around 4 lakh jewellers, out of this only 35879 have been BIS certified.
The Hallmarking of jewellery and artefacts is required to enhance the credibility of gold Jewellry and Customer satisfaction through third party assurance for the marked purity and fineness of gold , consumer protection.