Publish Date: | Mon, 30 May 2022 07:05 PM (IST)
Gold Hallmark Rules: Buying gold is considered to be the best investment in our country. Also, giving gold as a gift is considered a big deal. There is also a practice of buying gold during Teej festivals. In such a situation, there is a good news for the gold buyers of the country. From June 1, gold sold in all shops across the country will be hallmarked. That is, now there will be no room for disturbance or adulteration in the purchase of gold. As per the BIS notification, from June 1, 2022, jewelers can sell only hallmarked gold jewellery. Simply put, every item of gold jewelry, regardless of carat, must be hallmarked. This will be a big relief for the customers. That is, from June 1, all gold jewelery sold in the market will be considered completely safe in terms of purity.
Changes in rules from June 1
At present, hallmarking of gold is allowed for 6 purity categories, namely 14 karat, 18 karat, 20 karat, 22 karat, 23 karat and 24 karat, as per the Bureau of Indian Standards (BIS) website. Thus, gold jewelery of other purity (21KT or 19KT) does not require a hallmark before it can be sold to a jeweller. But from June 1, this rule will change.
Under the new rules, from June 1, 2022, it is mandatory to hallmark all gold jewelery and artefacts except for certain exempted items. In these, any gold article weighing less than two grams, any article of gold thread, special category of jewelery – kundan, polki and jadau, gold bullion etc. will be exempted from hallmarking. Keep in mind that the jeweler can charge you an additional Rs 35 for each gold item purchased as hallmarking charges.
What is Hallmark?
Gold or yellow metal in India comes in many varieties like Hallmark Gold, BIS 916 and KDM Gold. So when it comes to buying gold, the purity of the gold is always the biggest concern. The Bureau of Indian Standards (BIS) stamps a certificate of purity and fineness of gold, which is called hallmarking. Hallmarking on gold shows that the gold used for making jewelery adheres to international standards of purity. Bureau of Indian Standards (BIS) is the only agency recognized by the Government of India to conduct the certification scheme for hallmarking of gold jewellery.
Posted By: Shailendra Kumar