Consumer Affairs Minister announced that from January 15, 2021, onwards, No jeweller will be allowed to sell gold jewellery or artefacts without hallmark from the Bureau of Indian Standards (BIS)
- What is it? Gold hallmarking is a purity certification. Mandatory hallmarking will protect the public against lower caratage and ensure consumers do not get cheated while buying gold ornaments.
- Consumers have to watch out for four marks on hallmarked gold jewellery: (1) BIS mark, (2) purity in carat, (3) assay centre’s name and (4) jewellers’ identification mark.
- Grades available: Jewellers will be allowed to sell only 14, 18 and 22 carat gold jewellery. Instead of 10 grades earlier, hallmarked gold jewellery will now be available in three caratage of 14 carat, 18 carat and 22 carat.
- Deadline: Jewellers have been given a year’s time (i.e. till January, 2021) to register themselves with the BIS.
- Penalty: If jewellery or artefacts made of 14, 18 and 22 carat gold are sold without a BIS hallmark, then the jeweller could be charged penalty five times the cost of the object or even given imprisonment up to one year.
Important Info :
- The BIS Act 2016 has enabling provisions under Section 14 & Section 16 for mandatory hallmarking of Gold jewellery & artefacts by the Central Government.
- BIS (Hallmarking) Regulations, 2018 were notified w.e.f. 14.06.2018.
Source : The Hindu