New Delhi: The authorities is all set to implement obligatory hallmarking of gold jewelry and artefacts from June 1, 2021. The Centre had in November 2019, introduced that hallmarking of gold jewelry and artefacts could be made obligatory throughout the nation from January 15, 2021. But the deadline was prolonged for 4 months until June 1 after the jewellers sought extra time to implement within the wake of the COVID-19 pandemic.
India is the biggest importer of gold, which primarily caters to the demand of the jewelry business. In quantity phrases, the nation imports 700-800 tonne of gold yearly.
Here is what Mandatory gold hallmarking means for you
1. Gold hallmarking is a purity certification of the dear metallic and is voluntary in nature at current.
2. From June 1, jewellers might be allowed to promote solely 14, 18 and 22 carats of gold jewelry.
3. The BIS is already operating a hallmarking scheme for gold jewelry since April 2000, and round 40 per cent of gold jewelry is being hallmarked at the moment.
4. According to the BIS, the obligatory hallmarking will defend the general public towards decrease caratage and guarantee customers don’t get cheated whereas shopping for gold ornaments and get the purity as marked on the ornaments.
5. In 2020, the federal government had launched the net system of Registration and Renewal of Jewellers and on-line system of recognition and renewal of the Assaying and Hallmarking Centres. This on-line system might be accessed by way of Bureau of Indian Standards net portal www.manakonline.in. The neatest thing in regards to the on-line system is that there might be no human interface in processing the functions. Jewellers can apply on-line and submit required mandatory paperwork and charges for acquiring a licence by way of this on-line portal. The second a jeweller submits the appliance with the requisite charges, he might be granted registration. A mail and SMS alert will go to him, informing Registration Number, after which he can obtain and print the Certificate of Registration utilizing the Registration Number.
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