Gold jewellery: Govt eases norms for mandatory hallmarking

by Jeremy

Besides, the government has also waived the penalty for violation of hallmarking till the end of August.

The government has eased mandatory hallmarking of gold jewelry by exempting traders whose annual turnover is below Rs 40 lakh. It also decided to implement the rules in three phases, implying ‘one nation, one standard’ policy will be delayed. Mandatory hallmarking means that jewelers will be able to sell hallmark-certified 14 or 18 or 22 carats of gold jewelry to protect the public against lower caratage. However, the government has also accepted the jewelry industry’s demand to include gold ornaments of 20, 23, and 24 carats, for which necessary notifications will be issued.

Gold jewellery: Govt eases norms for mandatory hallmarking

Announcing that hallmarking would be mandatory in 256 districts, where assaying centers are already set up, in the first phase from Wednesday, director general of Bureau of Indian Standard (BIS) Pramod Kumar Tiwari said that in the second phase, 246 districts would be covered which are located within the 100-kilometer distance of current implementing districts. However, he did not disclose when the next step would be implemented.

He also did not rule out the possibility of jewelers selling non-hallmarked jewelry in 256 districts by arranging some “dummy receipts”. Consumer affairs minister Piyush Goyal met jewelry industry representatives on Tuesday evening, a day before the mandatory hallmarking was implemented.

Besides, the government has also waived the penalty for violation of hallmarking till the end of August. Export and re-import of jewelry as per the government’s trade policy —for international and B2B domestic exhibitions — will be exempted from mandatory hallmarking. Watches, fountain pens, and particular types of artifacts such as Kundan, Polki, and Jadau will also be exempted from hallmarking as jewelers had requested for it.

“Since this is a major decision, we will concentrate for the next three months on handholding the stakeholders (jewelers) as they also have many apprehensions. We will try to allay their fears as it is prudent to help them feel comfortable,” Tiwari said. It has also been decided to allow jewelers to increase or decrease the hallmarked gold ornaments by up to 2 grams without going to the assaying center again to meet customers’ requirements.

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