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Watches, fountain pens and special types of jewellery will be exempted from hallmarking.
After the deadline for mandatory hallmarking of gold jewellery was extended to June 15 from earlier deadline of June 1 in view of the Covid-19 pandemic, the practice of mandatory hallmarking of gold jewellery kicked in from Wednesday, June 16. Hallmarking of gold jewellery certifies the purity of yellow metal.
The government has said that there will be no penalties for jewellers till August end in implementation of gold hallmarking.
Initially, mandatory hallmarking of gold jewellery will start from 256 districts in the country which have assaying marking centres and jewellers with annual turnover upto Rs 40 lakh will be exempted from mandatory hallmarking.
“Hallmarking will enable Consumers/Jewellery buyers to make a right choice and save them from any unnecessary confusion while buying gold. At present, only 30 per cent of Indian Gold Jewellery is hallmarked,” Ministry of Consumer Affairs, Food & Public Distribution said in a press release.
Watches, fountain pens and special types of jewellery namely Kundan, Polki and Jadau will be exempted from hallmarking, Ministry of Consumer Affairs added.
Jewellers can continue to buy back old gold jewellery without hallmark from consumer.
According to World Gold Council, India has around 4 lakh jewellers, out of this only 35,879 have been certified by the Bureau of Indian Standards.
