The central government of India announced and updated the scheme of the hallmarking in the Gold. They made it mandatory to start the hallmarking in the gold. The effect was shown in the ministry of the consumer’s affair, food, and public distribution.
The director of the BIS, Pramod Kumar said that hallmarks shall be labeled and tagged compulsory when it comes to the sale of the gold. Without the hallmark in the gold, it shall not be considered as the sale. It can be tagged onto anything, manufacturer, whole seller, or distributor but it shall be there. Also when it comes to the alteration in the weight of the gold, it will be allowed and shall be considered and counted as the purity of the jeweler. The alteration upto 2 grams shall be the maximum allowed by the jeweler.
Almost every jeweler of the country agreed to the decision of hallmarking as it allows the country’s structure to be in an organized manner and allows the economy to grow in the structural form. There is a number of changes that were supposed to be done, and one of them is the specification of hallmarking in the gold. The director of the Kalyan jewelers said that the gold and jewelry business will go from unorganized to organized and that will really help in the preservation of the material accurately with the accurate data of the statements in the gold.
The guideline and the instruction of hallmarking in the gold:
- There will be an increase in the hallmarking centers, as this has kept mandatory in the 256 districts and there will be an almost raise of 25% of the hallmarking centers every year.
- Right now there is assigning of almost 943 hallmarking centers where every piece of jewelry is counted for the hallmarking. Those jewelers are earning up to 40 lakhs will be applying for mandatory hallmarking. Special items like watches, pens will also be exposed to labeled by hallmarking.
- According to the statement of the government, there will be the label of BIS registered hallmarking on selling special metals like gold. Whether you are a marketer, importer, wholesaler, or engaged in any kind of selling activities, you will be labeled under the BIS and marked under the hallmarking of the material.
- If you are not engaged in direct selling, then also you will be labeled for the hallmarking as it is stated mandatory from the government.
Rules that are for executing the mandatory hallmarking in the special metals like gold for everyone who is engaged in the business of it.