Gold hallmarking mandatory in India from today

Mumbai - Hallmarking is aimed at protecting the public from getting cheated



By Web report

Published: Wed 16 Jun 2021, 8:39 AM

Last updated: Wed 16 Jun 2021, 8:40 AM

The mandatory hallmarking of gold jewellery and artefacts has come into force in India from Wednesday, with the government introducing it in a phased manner in 256 districts in the initial stage.

"Continuing our government''s endeavour for better protection & satisfaction of customers, mandatory hallmarking in 256 districts will be implemented from June 16, 2021. No penalty will be imposed till August 2021," tweeted consumer affairs minister Piyush Goyal.

Initially, the hallmarking of gold jewellery and artefacts were to have come into force from January 15, but the deadline was extended twice as jewellers sought more time because of the pandemic.

According to the new rules, jewellers with annual turnover of up to Rs4 million will be exempted from the mandatory hallmarking rule.

Export and re-import of jewellery as per the government’s trade policy for international exhibitions and even for government-approved B2B domestic exhibitions will also exempted from mandatory hallmarking.

"Jewellers can continue to buy back old gold jewellery without a hallmark from consumers," noted a government statement. Old jewellery can also be hallmarked, if feasible by the jeweller after melting and making new ones.

The mandatory hallmarking is aimed to protect the public against lower caratage and ensure consumers do not get cheated while buying gold ornaments and get the purity as marked on the ornaments.

AFP
AFP

More news from Asia