Buying gold? New hallmarking rules explained in 5 points1 min read . Updated: 18 Jan 2020, 08:19 AM IST
- Gold hallmarking is a purity certification of the precious metal
- There are charges that has to be paid to get the jewellery hallmarked
It has now become mandatory for all jewellers to sell hallmark gold jewellery. The government has made the process of hallmarking of gold jewellery mandatory, but it will give one year’s time to jewellers to register themselves with the Bureau of Indian Standards (BIS) and clear their old stock. So, from 15 January 2021, no jeweller will be allowed to sell any ornaments without hallmarking.
What is gold hallmarking
Hallmarking is the accurate determination and official recording of the proportionate content of precious metal. Gold hallmarking is a purity certification of the precious metal. In India, at present gold and silver have been brought under the purview of hallmarking.
Let's take a look at few things you should know about gold hallmarking:
1) Hallmarking will be done for jewellery in 3 categories - 14 carat, 18 carat and 22 carat.
2) Union Minister Ram Vilas Paswan said,"the purpose of making hallmarking mandatory for gold jewellery and artefacts is to ensure that consumers are not cheated while buying gold ornaments and get the purity as marked on the ornaments."
3) There are charges that has to be paid to get the jewellery hallmarked. According to the BIS website, ₹35 per article is charged. The minimum charges for a consignment shall be ₹200(Services Tax and other levies as applicable shall be extra).
4) The mandatory hallmarking will also ensure that consumers don't get cheated while buying gold ornaments and get the same purity and carat as marked on the ornament.
5) Hallmark on gold jewellery now has four marks: BIS mark, purity in carat, assay centre's name and jewellers' identification mark.