Gold hallmarking may soon become mandatory in 56 more districts: Report
CNBC-TV18 on Tuesday. The Department of Consumer Affairs (DoCA) and the Bureau of Indian Standards (BIS) have approved the proposal and an official notification is expected in the next few days, said the report citing sources. Currently, the sale of gold across 288 districts is allowed only if the yellow metal is hallmarked.
The 6-digit alphanumeric HUID (Hallmark Unique Identification) mandate for gold artefacts was started from 1 April this year. The hallmark is used as a guarantee of purity and fineness for gold and silver in India. In March, Pramod Kumar Tiwari, director general, Bureau of Indian Standards, had said that there is a need for mandatory hallmarking of gold bullion.
An advisory group has been formed last month. Gold importers, Assaying and Hallmarking Centre (AHC) Association and jewellers associations are part of this advisory group. For the hallmarked jewellery lying with consumers as per old schemes, Tiwari had said those shall remain valid.
Consumers can sell or exchange their old jewellers as per there convenience. Gold bullion is used as raw material for manufacturing of jewellery and its purity is paramount, considering the large volume of jewellery hallmarked. According to the BIS, the hallmark will help in ensuring the purity of gold jewellery.
In March, the consumer affairs ministry had announced that it has been decided that after 31 March 2023, sell, or offer to sell gold jewellery or gold artefacts unless it is hallmarked with of 6-digit HUID number will not be allowed. Till 16 June 2021, the gold hallmarking was voluntary in nature. Prior to the implementation of the six-digit HUID number, hallmarking of gold jewellery consisted of four marks -- BIS logo, purity of the article as well as
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