New Delhi: The Center on Tuesday said that the mandatory hallmarking system on gold jewelery and artefacts will come into effect from June 16. It will be implemented in a phased manner and initially it will be implemented in 256 districts.
Hallmarking is a certificate of purity of the precious metal and at present this system was kept voluntary. A decision to this effect was taken in a meeting with the industry under the chairmanship of Consumer Affairs Minister Piyush Goyal.
Deadline extended due to corona pandemic
It is noteworthy that in 2019, the government had announced to make hallmarking mandatory on gold jewelery and artefacts from January 15, 2021. But later the deadline was extended for four months till June 1. Again this was pushed to June 15 after jewelers requested the deadline to be extended due to the pandemic.
Consumer Affairs Minister Piyush Goyal wrote on Twitter after the meeting, “It has been our government’s constant endeavor to ensure better customer safety and satisfaction. In this episode, on June 16, 2021, hallmarking is being implemented compulsorily in 256 districts. No penalty will be imposed in this case till August 2021.
Consumer Affairs Secretary Leena Nandan told PTI-language that the mandatory hallmarking system will be implemented in a phased manner and initially it will be implemented in 256 districts where there are centers to check the purity of the precious metal.
The secretary said that the concerns of the industry have been addressed in the meeting.
According to an official statement, after extensive deliberations, the government has exempted certain units from the mandatory hallmarking system in the jewelery sector. For example, jewelery manufacturers with annual turnover up to Rs 40 lakh will be exempted from mandatory hallmarking.
Those units have also been exempted from this arrangement, which export and re-import jewelery under the trade policy of the government. Apart from this, there will be exemption from this for international exhibition as well as for B2B (between traders) domestic exhibition with government approval.
According to the statement, from June 16, jewelers in 256 districts will be allowed to sell only 14, 18 and 22 carat gold ornaments. Hallmarking will also be allowed for additional 20, 23 and 24 carat gold.
You can continue to buy gold without hallmark: Government
Apart from this, the government said that it has exempted gold used in watches, fountain pens and mandatory hallmarking on Kundan, Polki and Jadau jewellery. According to the statement, “Jewelers can continue to buy un-hallmarked gold from consumers.” After melting the old jewelery and making new jewelery, hallmarked can be done by the jeweler if practical.
The government has decided to constitute a committee of all stakeholders, revenue officials and legal experts to look into the issue. With mandatory hallmarking on gold, people will be saved from fraud and they will get the same thing in terms of purity for which they have paid.
The Bureau of Indian Standards (BIS) has been running the hallmarking scheme for gold jewelery since April 2000. At present, about 40 percent of gold jewelery is being hallmarked.
Read this also.
Chirag Paswan’s action on LJP’s ‘rebels’, five MPs including uncle-brother expelled from the party