The identification of gold jewelry is an absolute must. Beginning today, jewellers in 256 districts across India need to certify the purity of gold and standardize customer rates. Gold Hallmarking, which protects buyers from being cheated on price and purity while buying gold ornaments, comes in effect from today.
As per the government, the implementation of Gold Hallmarking across India will be done in phases, with 256 districts being included in the first phase that begins today.
Gold Hallmarking has been made voluntary for bullion resellers with a turnover of less than Rs. 40 Lac per annum, while it has been made mandatory for resellers with an annual turnover exceeding Rs. 40 Lac. Exports and re-importers of gold jewelry, jewelry meant for international exhibitions and for government approved domestic exhibitions will also be exempt.
Hallmarking is also voluntary for gold used in watches, fountain pens, Kundan, Polki and Jadau jewelry.
Non-hallmarked Jewelry can be bought back from customers though.
“Hallmarking is needed to enhance the credibility of gold jewellery, customer satisfaction and consumer protection", as per a government statement, which also says that only 40% of the gold ornaments being sold were Hallmarked till today.
Due to the COVID crisis, the January 2021 deadline was delayed for four months as jewelers needed more time.
"Continuing our government's endeavor for better protection and satisfaction of customers, mandatory hallmarking in 256 districts will be implemented from June 16. No penalty will be imposed till August 2021," Consumer Affairs Minister Piyush Goyal tweeted on Tuesday.
The Bureau of Indian Standards has been running the Hallmarking scheme since 2000, under which 35,879 of around 4 lakh Indian jewelers have registered.