Mandatory hallmarking of Gold jewelry to be force from today

Mandatory hallmarking of Gold jewelry to be force from today
Picture Courtesy : Vaibhav Jewelers

Mandatory Hallmarking of Gold Jewellery comes in to force from today 16 June 2021.  No penalties until August 2021 end in execution of Gold Hallmarking. Mandatory Hallmark certificate of Gold Jewellery is good for both customers & companies. Extensive consultations with stakeholders held. Shri Piyush Goyal, Minister for Consumer Affairs, Food & Public Distribution, Railways and Commerce & Industry matches various stake holders included in Hallmarking of Gold Jewellery at India. 

Based on extensive consultations with stakeholders, following decisions were taken :

  • Hallmarking will be initially be starting from 256 districts, which have Assaying marking centers.
  • Jewellers with yearly turnover upto Rs. 40 lac will be exempted from mandatory Hall Marking.
  • Export and re-import of jewellery according to Trade Policy of Government of India - Jewellery for global exhibitions, jewellery for government approved B2B domestic exhibitions will be exempted from mandatory Hall Marking.
  • Gold of Additional carats 20, 23 and 24 are also permitted for Hall Marking.
  • Watches, fountain pens and unique types of jewelry viz. {Kundan, Polki and Jadau will be exempted from Hall Marking.
  • Jewellers can continue to buy back old gold jewelry without hallmark out of consumer.
  • So as to provide sufficient time to the manufacturers, retailers and wholesalers of Gold Jewellery, there wouldn't be any penalties until August end.

Old jewellery could be obtained hallmarked as it is if possible from the jeweller or after melting and making new jewellery.

A committee constituting of representatives of all stake holders, revenue officials and legal experts will.be made to look into the problems that may possibly emerge during the implementation of this scheme.

Shri Goyal said that constructive suggestions are always welcome and implementation ought to be effective. It could be mentioned that Hallmarking of Gold Jewellery was previously set to start from 15th June 2021.

Under Hallmarking scheme of Bureau of Indian Standards, Jewellers are registered for selling hallmarked jewellery and recognise testing and Hallmarking facilities. BIS (Hallmarking) Regulations, were implemented w.e.f. 14.06.2018. Hallmarking enables Consumers/Jewellery buyers to make a ideal choice and save them out of any unnecessary confusion whilst purchasing gold. Currently, only 30% of Indian Gold Jewellery is hallmarked.

The Hallmarking of all jewellery/artefacts is needed to boost the trustworthiness of golden Jewellry and client satisfaction via third party assurance for its noticeable purity/fineness of gold, customer protection. This measure will also help to develop India as a top gold market centre in the World.

It's to be mentioned that there's been 25% increase in A&H centers in the last five years. The number of A&H facilities have risen from 454 to 945 in the last five years. Currently 940 Assaying and Hallmarking facilities are operative. Out of the 84 AHCs have been set up under Govt. Subsidy scheme in a variety of Districts.

Currently A&H Centre's can hallmark 1500 articles in a day, the estimated hallmarking capacity of A&H Centre's annually are 14 crore articles (Assuming 500 articles per shift &300 working days.

According to World Gold Council, India has approximately 4 lakh jewellers, out of the just 35,879 happen to be BIS certified.