Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the jewellery/artefacts or bullion/coins. Hallmarking Scheme is currently voluntary. However, Quality control order for mandatory hallmarking of gold jewellery/artefacts has been issued on 15 Jan 2020 by the Govt. of India. Mandatory hallmarking of gold jewellery/artefacts shall come into force with effect from 01 June 2021.
Hallmarks are thus official marks used in many countries as a guarantee of purity or fineness of precious metal articles. The principle objectives of the Hallmarking Scheme are to protect the public against adulteration and to obligate manufacturers to maintain legal standards of fineness. In India, at present two precious metals namely gold and silver have been brought under the purview of Hallmarking.
Mandatory Gold Hallmarking : What Experts Say About New Law Related to Yellow Metal.
Objectives Behind Instituting Hallmarking Scheme:
Appropriate Stock Means:
The Indian Standards Of Hallmarking are:
The grades that are permitted for hallmarking of Gold Jewellery:
IS 1417:2016 permits Gold jewellery/artefacts of 14 carat, 18 carat and 22 carat to be hallmarked and sold. However an amendment to the Indian Standard is being issued which would permit Hallmarking of six caratages of gold jewellery/ artefacts, viz. 14, 18, 20, 22, 23 and 24 carats.
How Will be the Jewellers Get Benefitted?
Who Need to Get the Jewellery Hallmarked?
In the chain of Manufacturer, Wholesaler, Distributor and Retailer, the responsibility to get the article Hallmarked is on the one who makes the first point of sale. Thus hallmarking has to be done only once in the entire chain and it has to be done by the one who has made the first sale which may be Manufacturer or Wholesaler or Distributor or Retailer.
Necessity of Taking Authentic Bills/ Invoice for the Hallmarked Article From the Retail Jeweller:
Following Marks on the Hallmarked Jewellery are Mandatory:
Under Mandatory Hallmarking Category:
The Details Jeweller has to Mention In the Bill Issued to the Purchaser:
It is also mentioned that “the consumer can get the purity of the hallmarked jewellery/artefacts verified from any of the BIS recognized A&H centre (Assaying & Hallmarking centre).