Gold Hallmark Update: The government has recently made new rules regarding the sale of gold jewellery. These rules have been made to bring more transparency in the sale of gold articles and jewellery. Along with this, it will also be decided that the customers are not cheated.
Gold Hallmark Update: The government has recently made new rules regarding the sale of gold jewellery. These rules have been made to bring more transparency in the sale of gold articles and jewellery. Along with this, it will also be decided that the customers should not be cheated. From April 1 this year, it is mandatory for all gold jewelery to have a Hallmark Unique Identification (HUID) number. If you have old gold jewelery and want to exchange or sell it, you must get it hallmarked. The rules related to the sale and purchase of gold have now changed.
Gold piece will get unique identity
A hallmark on a piece of gold gives a unique identification number. It also ensures that the gold jewelry or article has the purity of the gold as promised. Gold articles must have a purity mark. For example, it is necessary to have 22-karat and the logo of the Bureau of Indian Standards (BIS).
These are the new rules
According to government rules, gold ornaments without hallmark cannot be sold. If you have unhallmarked old gold jewelery to exchange or sell, you will need to get it hallmarked with HUID. Note that if your jewelery is already with a vintage/old hallmark, you need not go through the hallmarking process. In this case gold can be accepted without HUID.
Government has made new rules
Apart from this, gold weighing less than two grams, jewelery for international exhibitions, any article for export made for special demand from a foreign buyer, and fountain pens, watches or special types of jewelery have been exempted from hallmarking.
Hallmarking can be done here
Customers can get the jewelery tested at any BIS-accredited hallmarking centre. Rs 45 for one piece and Rs 200 for 5 pieces. You can also get your jewelery hallmarked from a BIS registered jeweler. The jeweler takes the item to the BIS Assaying and Hallmarking Center for processing. Jewelers who do not get gold hallmarked can be jailed for one year, fined five times the value of gold ornaments, or both.
