Govt permits 16k-odd jewellers to sell “declared” old gold hallmarked stock till June-end – ET Retail

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A day ahead of the sale of gold jewellery having mandatory hallmarking with six-digit alphanumeric HUID coming into force, the government on Friday gave another three months time till June-end to 16,000-odd jewellers to sell the “declared” old hallmarked gold jewellery stock that existed prior to July 2021. A gazette notification in this regard has been issued by the nodal consumer affairs ministry after a recent meeting with jewellery and the sector expert bodies.

As per the notification, the ministry has amended the Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020 and allowed only those jewellers who declared their old stock — having an old hallmarking mark — to clear those articles before June 30, 2023.

“Provided that if any person had already given declaration as required by the Bureau under sub-section 4 of section 18 of the Bureau of Indian Standards Act, 2016 (11 of 2016) declaring his old stock of gold jewellery or gold artefacts with old hallmarking as existed prior to July 1, 2021, such person shall be permitted to sell or display or offer to sell such declared stock of gold jewellery or gold artefacts up to June 30, 2023,” the notification said.

Speaking to PTI, additional secretary in the ministry Nidhi Khare said there are 1.56 lakh registered jewellers in the country, out of which, 16,243 jewellers had on July 1 this year disclosed their old hallmarked jewellery.

“About 16243 jewellers, who had disclosed old hallmarked jewellery on 1.7.2023, have been given a final extension of 3 months,” she said.

This is the final deadline and no more extension of time will be given to clear the old stock, she added.

Khare said the rest of the registered jewellers will be selling gold jewellery with the 6-digit alpha numerical HUID (Hallmark Unique Identification) mark from April 1.

Gold hallmarking is a purity certification of the precious metal. The six-digit HUID number was introduced from July 1, 2021.

Prior to the introduction of the HUID number, hallmarking of gold jewellery consisted of four marks — BIS logo, purity of the articles as well as logo of jeweller and Assaying and Hallmarking Centre.

But the six-digit HUID hallmarking comprises only three marks — BIS logo, purity of the article and six-digit alphanumeric HUID.

The simultaneous sale of hallmarked gold jewellery with and without a six-digit HUID number was creating confusion and the government set April 1 deadline for all jewellers to compulsorily implement the six-digit HUID number.

As per section 49 of Bureau of Indian Standards Rules, 2018, if hallmarked jewellery purchased by the consumer is found to be of lesser purity than that marked on jewellery, then the buyer/customer will be entitled for compensation which will be two times the amount of difference calculated on the basis of shortage of purity for the weight of such article sold and the testing charges.

India is the world’s largest consumer of gold jewellery and imports about 700-800 tonnes annually.

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