Government gave big relief, gold jewelery will not be fined even if there is no hallmark

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Director General of Bureau of Indian Standards (BIS) Pramod Kumar Tiwari said that this is a big step to protect the interest of consumers. The government has given a big relief to the jewelers of the country.

Gold Hallmarking

The central government said that till August no fine will be imposed on goldsmiths who do not comply with the order of mandatory hallmarking of jewellery. The government has taken this decision after the request of goldsmiths affected by COVID-19. However, the government said that action will be taken on the complaints of consumers as per rules. Consumers can lodge complaints on the BISCARE application and on the consumer portal of the Union Ministry of Consumer Affairs.

Hallmarking on gold in the country was voluntary till now. In the year 2019, the central government had announced to make hallmark mandatory on gold from January 15, 2021. This deadline was postponed twice to 15 June 2021 after goldsmiths demanded more time due to the COVID-19 epidemic.

Bureau of Indian Standards told a big step

Director General of Bureau of Indian Standards (BIS) Pramod Kumar Tiwari said that this is a big step to protect the interest of consumers. He said that in order to make the goldsmiths compliant with the new system, the government has taken action in August for non-compliance of mandatory hallmark norms. has decided not to impose the fine. It is worth noting that the hallmark on gold is the certification of the purity of the precious metal, which has now been made mandatory by the government for all goldsmiths.

What do experts say

Yogesh Singhal, president of Bullion and Jewelers Association, told TV9 that we welcome this decision of the government. Singhal says that no businessman has any problem in selling hallmarked jewelry. But there are some such provisions in this law, which the government should withdraw. Now that the government has given relaxation to the traders, the jewelers will get time to get accustomed to this system. Yogesh Singhal says that there are many traders, manufacturers, suppliers, wholesalers in the supply chain of jewelry. Now all of them will get relief if they get time.

What is the reality of hallmarking

According to the World Gold Council, there are a total of 4 lakh jewelers across the country.
Out of these only 35,879 jewelers are BIS certified
– In the current era, only 30 percent of the jewelry is hallmarked.
940 centers are currently available for hallmarking across the country
80 percent of the country’s gold is used for jewelry only.

(with language input)

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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