Only Hallmark Gold jewellery to be sold from January 2021!
Posted on: 17/Jan/2020 7:10:48 AM
The Central Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan has announced that the gold jewellery traders need to sell only Hallmark on the pieces of jewellery from 15th January 2021.
Further, in order to prevent maloperations in gold/gold jewellery trading henceforth is it mandatory that gold jewellery sales can be done only on 3 grades.
The Minister informed that time duration of 1 year has been given to implement this new procedure.
Accordingly, gold jewellery can be sold only in 3 grades: 14 Karat, 18Karat, and 22 Karat. Alart from this, the Hallmark Seal must be there as an Indian Quality BIS standard. Time has been given until 15th January to implement this.
The announcement regarding this will soon be released by the central government ministry of consumer affairs, food, and distribution. Once this is implemented, only gold jewellery in 3 grades (14, 18 and 22 Karat) with Hallmark seal can be sold in the gold jewellery shops.
It has been warned that if this rule is violated, 1-year imprisonment and penalty will be imposed.
Presently, there are 892 Hallmark rating/seal issuing centres in 234 districts throughout the country. Around 28849 jewellery shops have registered in these centres.
In case the gold jewellery traders violate the new rules, a penalty equivalent from Rs. 1 Lakh and 5-times the assessed price of the related gold jewellery item will be imposed as a penalty. Further, 1-year imprisonment will also be imposed.
Paswan informed that a target has been set to set up the Hallmark Seal and rating centres in every district.
Accordingly, people who buy gold jewellery items after 15th January 2021 will need to check and confirm whether the Hallmark Seal is there and the rating of the gold done by the rating centre is available in the jewellery purchase!
