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Gold hallmarking is not mandatory for these commonly bought articles



Gold hallmarking is not mandatory for these commonly bought articles

The government has made it mandatory for all jewellers to sell only hallmarked gold jewellery from June 16, 2021. Further hallmarking signs have been revised effective from July 1, 2021. Three symbols of hallmarking have been introduced instead of four earlier. The new symbols of hallmarking are – a) BIS hallmark logo, b) Purity/fineness grade (for example 22K916 for 22 carat gold) and c) 6-digit alphanumeric code.

However, as per the Bureau of Indian Standards (BIS), there are certain types of gold jewellery that are exempted from hallmarking. These include:

a) A gold article with weight less than two grams,

b) Any article of gold thread,

c) Special categories of jewellery – Kundan, Polki and Jadaau,

d) Gold watch and fountain pen,

e) Gold bullion in any shape of bar, plate, sheet, foil, rod, wire, strip, tube or coin

f) Any article which is intended to be used for medical, dental, veterinary, scientific or industrial purposes,

g) Jewellery for international exhibitions,

h) Gold jewellers having annual turnover of up to Rs 40 lakh per annum,

i) Any article meant for export, which conforms to any specification required by the foreign buyer,

j) Jewellery for domestic Business-to-Business exhibitions, approved by Government agency,

k) Export and re-import of jewellery as per the Trade policy of the Government of India,

l) Any manufactured article which is not substantially complete and which is intended for further manufacture.

m) An article which is in course of consignment from outside to India to an assaying and hallmarking centre in India.

Though most of the exemptions mentioned above are for businesses, however, there are certain exemptions relevant for individuals. For instance, if you are buying any gold article of less than two grams or gold say for the thread/chain for earrings, then such gold items will not be hallmarked.

If an individual buys Kundan/Polki jewellery, then as mentioned above, these items are exempted from BIS hallmarking scheme. In such a scenario, jewellers will be required to mention the description of the jewellery and that the jewellery is not hallmarked on the invoice.

Similarly, gold jewellers with an annual turnover of less than Rs 40 lakh are exempted from mandatory hallmarking order. Hence, if you buy from such a jeweller, it is likely that the gold jewellery bought may not be hallmarked.

Courtesy: Economic Times

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