Govt permits 16,000+ jewellers to sell ‘declared’old hallmarked gold jewellery stock till June-end

Industry-wide, all registered jewellers have been allowed to sell gold jewellery only with the 6-digit alpha numerical HUID mark from April 1, 2023

On April 7, the Department of Consumer Affairs extended the deadline for approximately 16,000 jewellers to sell their “declared” old hallmarked gold jewellery stock that existed prior to July 2021. According to a notice issued last week, the ministry has amended the Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020, and allowed only those jewellers who declared their old stock, having an old hallmarking mark,  to clear those articles before June 30, 2023.
“Provided that if any person had already given declaration as required by the Bureau under sub-section 4 of section 18 of the Bureau of Indian Standards Act, 2016 (11 of 2016) declaring his old stock of gold jewellery or gold artefacts with old hallmarking as existed prior to July 1, 2021, such person shall be permitted to sell or display or offer to sell such declared stock of gold jewellery or gold artefacts up to June 30, 2023,” the notification said.

“There are 1.56 lakh registered jewellers in the country, out of which 16,243 jewellers had disclosed their old hallmarked jewellery in July 2022. This is the final deadline and no more extensions will be given to clear the old stock,” said Nidhi Khare, Additional Secretary, Department of Consumer Affairs. Khare said the rest of the registered jewellers have been allowed to sell gold jewellery only with the 6-digit alpha numerical HUID (Hallmark Unique Identification) mark from April 1, 2023.
Prior to introduction of the HUID number, hallmarking of gold jewellery consisted of four marks: the BIS logo, purity of the articles as well as logo of jeweller and Assaying and Hallmarking Centre. But the six-digit HUID hallmarking comprises only three marks: the BIS logo, purity of the article and the six-digit alphanumeric HUID.As per Section 49 of Bureau of Indian Standards Rules, 2018, if hallmarked jewellery purchased by the consumer is found to be of lesser purity than that marked on jewellery, then the buyer/customer will be entitled for compensation- two times the amount of difference calculated on the basis of shortage of purity for the weight of such article sold and the testing charges.

Courtesy: Retail Jeweller India News