The panel also suggested the reassessment of the exemption on gold jewellery items that were less than 2 grams in weight from the point of view of hallmarking them with only a symbol
A high-level Parliamentary panel has suggested the government to explore the possibility of aligning the Bureau of Indian Standards (BIS) norms prescribed for precious metals and jewellery, with those of international standards arranged by International Organisation of Standards, to promote exports of the precious metal jewellery.
In its report on hallmarking and jewellery, which was submitted in both Houses of Parliament recently, the standing committee on Consumer Affairs, Food and Public Distribution said that substantial number of people buy gold jewellery items weighing 1 or 2 grams on the occasion of festivals, functions or at regular intervals.
In the absence of any quality assurance, these people are prone to getting cheated.It, therefore, opined that buyer of gold should be assured of quality and fineness of the gold jewellery.
In this light, the panel suggested reconsideration into the exemption granted to gold jewellery items weighing less than 2 grams from hallmarking requirements and explore the feasibility of prescribing smaller HUID ID consisting merely a symbol or sign.
While noting the apprehensions of the consumer associations about unscrupulous traders resorting to selling jewellery without proper invoices and opening of sales entities in the name of employees, relatives, etc., to keep the turnover less than Rs. 40 lakhs per annum to remain exempted from mandatory hallmarking, the committee hoped that relevant enforcement authorities may address suitably the issues raised by the consumer association.
Courtesy: smetimes.in
