Gold Hallmarking New rules : Hallmarking mandatory on gold jewellery, now what will happen to your old jewellery? Know the answer to all your questions

Gold Hallmarking New rules : Hallmarking has become mandatory on gold jewelery in the country from June 16. Now jewelers will not be able to sell jewelery without hallmarking. Its aim is to provide quality gold to the customers. By selling good quality gold jewellery, one will save the customers from fraud and India will also be able to become a global hub of gold buying and selling. By making hallmarking mandatory, the responsibility of selling pure gold will fall on the gold industry.

Government Hallmarking) There has been pressure to sell gold jewelery but not much has been done to make common customers aware about it. In such a situation, there are many questions in the mind of common people. For example, the biggest question is what will happen to such jewelery kept with them, which does not have hallmarking. Will hallmarking jewelery be more expensive? Will they now have to sell the gold jewelery kept in the house cheap or will they not get any value. Let us know what are the new rules related to hallmarking and what will be its effect on the value of your gold jewellery.

Buy jewelery only from BIS registered jewelers

Whenever you go to any jeweler, check whether it has BIS (Bureau of Indian Standards) registration or not. Buy only hallmarked jewelery from a registered jeweller. The hallmarking number is different according to different carats. For example, the hallmarking number of 22 carat is 22k916. Make sure to get the bill from the jeweler. According to the BIS guidelines, if the jeweler does not fulfill the required conditions, then he will have to pay double the price of the amount equal to the lack of purity plus testing charges.

How to know if the 22k gold jewelery you are buying is hallmarked?

Gold Management Company Augmont According to director Ketan Kothari, it is mandatory for jewelers to do hallmarking and carat stamping on every gold item. If it is not visible on the jewellery, ask the jewelers to make it clear by increasing the power of the magnifying lens by ten times. Hallmarking is being done on 14, 18, 20, 22, 23 and 24 carat.

What about your jewelry that doesn’t have hallmarking?

Even if hallmarking is made mandatory, the value of your old jewelery will not come down. Jewelers will continue to buy their old jewelery from the customers. If jewelers feel that hallmarking can be done on old jewelry, then they can do hallmarking keeping in mind the cost. Hallmarking can be done on the old jewelery after making new jewelery by melting them.

Gold Hallmarking: Compulsory gold hallmarking has been implemented from today, now jewelers will be able to sell this carat only

Can jewelery without hallmarking be sold cheaply?

This is not possible. Violation of hallmarking rules under section 29 of the BIS Act, 2016 can be punished with imprisonment of either description for a term which may extend to one year or with a fine of not less than one lakh rupees. The amount of the fine should not be less than five times the value of the jewelery sold. However, there will be no penalty till August. This time has been given for thorough preparation of hallmarking for gold jewelery manufacturers, distributors and dealers.

Hallmarking is not necessary on these gold items

Gold watches, fountain pens and some other types of jewelery such as kundan, polki and jadau have been kept out of the purview of mandatory hallmarking norms. With hallmarking being mandatory, customers will now prefer to buy jewelry with this marking. This will keep their value intact. Hallmarking will encourage monetization of gold worth $1.5 trillion kept in Indian homes.