Hallmarking of Gold Jewellery Made Mandatory

IAS Prelims 2023


 

Bureau of Indian Standards (BIS) in a press conference held today shared insights on Mandatory Hallmarking of Gold Jewellery which has come into force from 16th June, 2021. 

Sh. Pramod Kumar Tiwari, Director General, BIS while addressing the facets of Mandatory Hallmarking shared 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 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 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. 

Registration of jewellers will be one-time and there will be no fees 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 job work basis for the jewellers and are not directly related to sale to anyone in the chain 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 back 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 stake holders, revenue officials and legal experts will be formed to look into the issues that may possibly emerge during the implementation of the scheme.

Under Hallmarking scheme of 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 a 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 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 setup under Govt. subsidy scheme in various Districts. 

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CP/PK

 

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    Source PIB