Bureau of Indian Standards has made 6-digit Hallmark Unique Identification obligatory.
These merchants demand the federal government bear the total value of changing the previous 4 or five-digit hallmarked jewelry into six-digit hallmarked jewelry.
The Bureau of Indian Standards (BIS) has made 6-digit Hallmark Unique Identification (HUID) obligatory for sustaining the purity of jewelry. The sale of 4 and 5-digit previous hallmark gold has now been fully banned within the nation, as per a notification issued by the Ministry of Consumer Affairs, Food and Public Distribution. Traders from a number of states and union territories have began opposing the choice of BIS. These merchants demand that the federal government ought to now bear the total value of changing the previous 4 or five-digit hallmarked jewelry into six-digit hallmarked jewelry.
The Jewellers Association of Delhi-NCR held a gathering on this subject. During the assembly, it was argued that the federal government ought to fully bear the bills for changing the previous jewelry with 4 or five-digits into six-digit hallmarks. According to Ramesh Manchanda, who’s related to the Jewellers Association, “The merchants have 4 and five-digit hallmarking jewelry inventory in billions and in case you get jewelry hallmarked as soon as, it prices Rs 53.10. Adding to this he additional mentioned that after checking the purity of the jewelry Rs 40.50 is taken from us for tagging prices. In this, Rs 8.10 for GST and Rs 4.50 for BIS bills are additionally charged. In such a scenario, if a six-digit tag is added on the jewelry once more, then crores of rupees shall be spent, so the federal government ought to take into consideration this.”
The hallmark of 6 digits is now valid
Buying gold and investing in it is a culture in India. Especially on the occasion of weddings or any other festival, many Indians purchase gold. But, sometimes we also have to sell gold ornaments. So, it is very important to know what changes have been made in the rules of selling gold.
When hallmarking rules are being implemented?
The new rules of hallmarking of gold jewellery are going to change from April 1, 2023. According to the new rule of the Ministry of Consumer Affairs, gold will not be sold without 6-digit alphanumeric hallmarking from April 1. Just like there is a 12-digit code on an Aadhaar card, in the same way, gold ornaments will have a 6-digit hallmark code. This is known as Hallmark Unique Identification Number i.e. HUID. The ministry said that now only 6-digit hallmarks will be valid.
Central Government on hallmarking guarantees
Gold hallmarking is a stamp or mark that shows customers the purity of the gold jewellery they are buying. The Central government had made it compulsory to sell hallmarked gold from January 15, 2021. However, it was completely implemented from June 16, 2021, onwards. From July 1 last year, the Central government changed the hallmarking signs of gold jewellery.
This is how hallmarking guarantees the purity of gold jewellery
Hallmarking is a guarantee that showcases the purity of gold. Hallmark is a mark or tag seen on every piece of jewellery. As part of the hallmark, the logo of the Bureau of Indian Standards (BIS) is also marked, which confirms the purity of the jewellery. Along with this, information about testing centres is also mentioned in hallmarking. The gold ornament amount varies, which is decided based on its purity i.e. carat. Sometimes jewellers charge higher carat prices for less carat jewellery and to eliminate this double-dealing, hallmarking has been made mandatory.
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