All gold objects sold after March 31 must have a Hallmark Unique Identification Number (HUID), according to a rule issued by the Union Government. Additionally, it was mentioned in the sources that hallmarking would be permitted are gold with extra carat weights of 20, 23, and 24. For example, if you purchase 23-carat gold jewellery, your jeweller will be obliged to sell your hallmarked gold jewellery. The requirement to hallmark gold ensures the purity of the golden metal. It will curb the frauds related to gold selling.
However, old jewellery bought by the consumers without hallmarking previously, can be sold to the jeweller. The mandatory hallmarking of watches, fountain pens, and particular kinds of jewellery, such as Kundan, polki, and Jadau, has been exempted by the government.
What is hallmark?
This is investigation done by the Bureau of Indian Standards (BIS). This institution examines jewellery or artefacts made of gold, silver and other precious metals. If the metal is pure, it is given a tag. This whole process is called Hallmarking. Now the Government of India has issued an order saying that goldsmiths will not be able to sell anything made of gold without hallmarking.
Benefits of hallmarking?
Why hallmarking is now important in India?
India is the second largest consumer of gold in the world. China is number one. In such a situation, people should not buy fake or less pure gold thinking it to be real. For this, hallmarking of gold is being done.
Hallmarked gold would be easy to identify. This is because just like the Aadhaar card has a 12 digit code, similarly gold will have a 6 digit hallmark code. This is called Hallmark Unique Identification Number (HUID).
Sources: Click Here
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