Gold hall markingDate: 19 June 2021 Tags: Miscellaneous
The government has made hallmarking gold jewellery compulsory in a phased manner from June 16.
The first phase will involve 256 districts of the country and jewellers with annual turnover above Rs 40 lakh will be under the purview.
Hallmarking is a guarantee of fineness and purity of metal articles that are precious. The Bureau of Indian Standard (BIS) is currently responsible for hallmarking.
The hallmarking scheme is currently applicable to only two metals, gold and silver. There are also two categories defined in form of gold jewellery and gold artefacts.
There are some exceptions that government has defined. These exceptions are for jewellery for international exhibitions as well as government approved domestic exhibitions.
Gold containing items such as fountain pens, watches and other jewellery such as Polki, Jadau and Kundan will also be exempted.
Need for hallmark
India is one of the largest consumers of gold but the percentage of gold circulated with hallmark is about only 30 percent.
The hallmark is a sign of purity of precious metals such as silver and gold.