Hallmarking of Gold in 256 districts becomes mandatory, jewellers with turnover of Rs40 lakh exempted

He further added that Jewellers with annual turnover up to Rs40 lakh will be exempted from mandatory Hallmarking.

Jun 17, 2021 03:06 IST India Infoline News Service

Pramod Kumar Tiwari, Director General, Bureau of Indian Standards (BIS) has announced that mandatory hallmarking has initially started with 256 districts of the country, which have Assaying and hallmarking centres.

He further added that Jewellers with annual turnover up to Rs40 lakh 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 will also be exempted from mandatory Hallmarking. Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau will be exempted from Hall Marking.

He further informed that the registration of jewellers will be one-time and there will be no fees will be charged from jewellers 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 a job work basis for the jewellers and are not directly related to the sale to anyone in the chain are exempted for registration.

While briefing DG, BIS said that the 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 the responsibility of purity on the jeweller.

He further added that 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 un hallmarked jewellery available in households can be sold to jewellers.  Tiwari added that Jewellers can continue to buy back old gold jewellery without hallmark from consumer and in order to give adequate time to the manufacturers, wholesalers and retailers of Gold Jewellery, there would be No penalties till August end.

Under Hallmarking scheme of the Bureau of Indian Standards, Jewellers are registered for selling hallmarked jewellery and recognise testing and hallmarking centres. BIS (Hallmarking) Regulations were implemented w.e.f. 14.06.2018. Hallmarking will enable Consumers i.e. Jewellery buyers to make the right choice and save them from any unnecessary confusion while buying gold.

The Hallmarking of jewellery/artefacts has been required to enhance the credibility of gold Jewellery and Customer satisfaction through third party assurance for the marked purity/fineness of gold, consumer protection. This step will also help to develop India as a leading gold market centre in the World.

It is to be noted that there has been a 25% increase every year in A&H centres in the last five years. The numbers 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 set up under Govt. subsidy scheme in various Districts.

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