Last Updated: March 05, 2023, 15:04 IST
The purity certification assists the buyer in receiving higher worth whereas additionally collateralizing it.
(Image: Shutterstock)
Explained: Till now, the outdated hallmarked jewelry with 4 marks with out HUID was additionally permitted to be offered by the jewellers together with the six-digit HUID mark
Sale of gold jewelry and gold artefacts hallmarked with solely a six-digit alphanumeric HUID — union identification quantity — shall be permitted from April 1, the federal government mentioned on Saturday.
This means the sale of outdated hallmarked jewelry with 4 logos with out HUID (Hallmark Unique Identification) quantity won’t be allowed after March 31.
Why Was This Decision Taken?
A call on this regard was taken after due session with stakeholders on January 18 in a bid to safeguard the curiosity of customers, the buyer affairs ministry mentioned in a press release.
Gold hallmarking is a purity certification of the valuable steel. It was voluntary in nature til June 16, 2021.
How to Identify These Hallmarks
It could also be famous that prior to the implementation of the six-digit HUID quantity, hallmarking of gold jewelry consisted of 4 marks — BIS emblem, purity of the article in addition to the brand of the jeweller and Assaying and Hallmarking Centre.
The six-digit HUID quantity was launched from July 1, 2021.
After the introduction of HUID, the hallmark consisted of three marks — BIS emblem, purity of the article and six-digit alphanumeric HUID. Each hallmarked article has a singular HUID quantity which is traceable.
Till now, the outdated hallmarked jewelry with 4 marks with out HUID was additionally permitted to be offered by the jewellers together with the six-digit HUID mark. More than a yr and 9 months got to jewellers to clear their inventory of their 4 mark hallmarked articles.
“However, the simultaneous sale of two varieties of hallmarked jewelry by the jewellers was creating confusion within the thoughts of the frequent shopper,” the ministry said.
The issue was discussed with stakeholders and the ministry decided to allow only the sale of hallmarked gold jewellery with six-digit HUID number only from April 1 onwards, it said.
What Will Happen to Your Old Jewelry?
The ministry also clarified that the hallmarked jewellery lying with consumers as per old schemes will remain valid.
As per section 49 of the Bureau of Indian Standards Rules, 2018, if hallmarked jewellery purchased by the consumer is found to be of lesser purity than that marked on the jewellery, then the buyer/customer will be entitled for compensation which will be 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, it added.
Benefits of Hallmarking
Hallmarked articles are certification and confirmation of quality that offer consumers with the confidence of gold purity, a report by Zee explains. Required hallmarking protects consumers from lower karatage gold jewellery and ensures that buyers are not mislead by jewellers and receive the purity specified in the product. This means that if a consumer purchases 22K hallmarked gold jewellery, it means that 22/24 of the pieces are gold and the rest is alloy, allowing him to calculate the purchase and resale worth of gold at the forefront, the report says.
When a consumer wants to discard it or exchange it for old jewellery, the purity of the gold cannot be disputed by another jeweller. With all of the specifics of the jewellery piece, the consumer can take the vendor to court.
The purity certification assists the consumer in receiving better value while also collateralizing it.
With inputs from PTI
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