Hallmarking on gold will be necessary from June 15, know why jewelers are getting worried

The government has made hallmarking of gold jewelery mandatory from 15 June, ignoring the jewelers’ concerns. Jewelers were talking about extending the deadline by 1 year due to Corona, but the government has given only 15 days. Jewelers say that hallmarking of entire jewelery is difficult in such a short time. Apart from this, the problem will increase further due to lack of hallmarking centers in large parts of the country.

Hallmarking required from 15 June

From 15 June hallmarking will be mandatory. It was previously mandatory for Hallmarking to be implemented from 1 June. The jewelers had demanded to extend the deadline by 1 year, but the government has given the jewelers only 15 days. The government has formed a committee to resolve the issues related to the rollout.

What are the difficulties of jewelers

Jewelers say jewelers will have problems with the rules coming into effect from June 15. There is not enough hallmarking center in the country. There is not a single hallmarking center in 11 states. 66.58 percent of the districts do not yet have hallmarking centers. Hallmarking of 6500 million pieces will have to be done by 15 June. It would be difficult to hallmark this much jewelry in 15 days. Small traders may have to close the business. Not having enough centers between the corona can make it more difficult.

Jewelers say that hallmarking is a positive step but hasty losses can occur. Only 14, 18, 22 carat hallmarking is made mandatory. The rest of the carat jewelery was banned in a way. People buy 23, 24 carat jewelery for investment. In many places, 20, 21 carat jewelery is sold more. There is a problem in implementing UID for jewelery in the country. In rural areas, there will be problems in paperwork of hallmarking.

Accuracy guaranteed will increase!

Hallmarking of BIS will be mandatory on gold jewelery. After that, only 22 carat, 18 carat, 14 carat jewelery will be sold. Hallmarking will eliminate fraud complaints. The hallmarking will contain the BIS seal, carat information. When the jewelry was made, Sal, the name of the jeweler would be inscribed. Hallmarking has been linked to international norms. Hallmarking will increase transparency in the gold market.

What will happen to the old jewelry

Hallmarking of old ornaments kept in the house will also be possible. Hallmarking can be done by visiting the Hallmark Center. Hallmarking of old jewelery will have to be charged a little more. It would be difficult to sell jewelery with no hallmarking. Jewelry without hallmarking can get a lower price.

There will be action on disturbances

Fines ranging from 1 lakh to 5 times the price of jewelery will have to be paid if there is a disturbance. Imprisonment of up to 1 year is also possible with a fine on fraud. For the investigation, the name of BIS-Care has also been launched. Accuracy check on the app will also facilitate the complaint. Can complain on incorrect information related to hallmarking.

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