The Centre has made it mandatory for hallmarking gold jewellery and artefacts in a phased manner for 256 districts of the country from June 16.
Piyush Goyal in his tweet informed that “Continuing our Govt’s endeavour for better protection & satisfaction of customers, mandatory hallmarking in 256 districts will be implemented from 16 June 2021. No penalty will be imposed till August 2021. This will help develop India as a leading global gold market center”.
“Hallmarking will be initially be starting from 256 districts of the country which have Assaying marking centres. Jewellers with annual turnover up to Rs 40 lakh will be exempted from mandatory hallmarking,” reads the release.
“Export and re-import of jewellery as per Trade Policy of Government of India – Jewellery for international exhibitions, jewellery for government-approved B2B domestic exhibitions will be exempted from mandatory hallmarking” it added.
“Jewellers can continue to buy back old gold jewellery without hallmark from the consumer. In order to give adequate time to the manufacturers, wholesalers and retailers of gold jewellery, there would be no penalties till August end. Old jewellery can be got hallmarked as it is, if feasible by the jeweller or after melting and making new jewellery,” the government said. “BIS (Hallmarking) Regulations, were implemented with effect from June 14, 2018. Hallmarking will enable consumers/jewellery buyers to make the right choice and save them from any unnecessary confusion while buying gold. At present, only 30 per cent of Indian gold jewellery is hallmarked” the release said.