New Gold Hallmarking Rules: 4 signs you should know before buying Gold!
New Delhi, Dec 03: Hallmarking of gold jewellery will soon be compulsory. If you are planning to buy gold which is not hallmarked, the possibility of buying impure gold is high.
"We are making hallmarking for gold jewellery and artefacts mandatory in the country. We will issue a notification on January 15 next year. One year period will be provided for implementation. From January 15, 2021, this will become mandatory," the government said.
Hallmarking signs that you should be aware of
1. BIS Mark
2. Purity in carat
a) 22K916 - Equal to 22 Carat
b) 18K750 - Equal to 18 Carat
c) 14K585 - Equal to 14 Carat
3. Identification Mark or Number of the Hallmarking Centre's
4. Identification Mark or number of the Jeweller's
Currently, there are 877 assaying and hallmarking centres in 234 district locations and 26,019 jewellers have taken BIS registration.
As per international law for gold trade, a member country has to notify a quality control order with the Geneva-based multilateral body and the process takes about two months time.
Exporting nations have to comply with the BIS quality norms specified for gold in the quality control order. India is a part of the 164-member WTO since 1995.
India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.