Last Updated: March 05, 2023, 16:13 IST
The sale of gold jewelery and gold artefacts hallmarked with only a six-digit alphanumeric HUID — union identification number — will be permitted from April 1, the government said on Saturday.
This means the sale of old hallmarked jewelery with four logos without a HUID (Hallmark Unique Identification) number will not be allowed after March 31.
Why Was This Decision Taken?
A decision in this regard was taken after due consultation with stakeholders on January 18 in a bid to safeguard the interest of consumersthe consumer affairs ministry said in a statement.
Gold hallmarking is a purity certification of the precious metal. It was voluntary in nature til June 16, 2021.
How to Identify These Hallmarks
It may be noted that prior to the implementation of the six-digit HUID number, hallmarking of gold jewelery consisting of four marks — BIS logo, purity of the article as well as the logo of the jeweler and Assaying and Hallmarking Centre.
The six-digit HUID number was introduced from July 1, 2021.
After the introduction of HUID, the hallmark consists of three marks — BIS logo, purity of the article and six-digit alphanumeric HUID. Each hallmarked article has a unique HUID number which is traceable.
Till now, the old hallmarked jewelery with four marks without HUID was also permitted to be sold by jewelers along with the six-digit HUID mark. More than a year and nine months were given to jewelers to clear their stock of their four mark hallmarked articles.
“However, the simultaneous sale of two types of hallmarked jewelery by the jewelers was creating confusion in the minds of the common consumers,” the ministry said.
The issue was discussed with stakeholders and the ministry decided to allow only the sale of hallmarked gold jewelery with a six-digit HUID number only from April 1 onwards, it said.
What Will Happen to Your Old Jewelry?
The ministry also clarified that the hallmarked jewelery lying with consumers as per old schemes will remain valid.
As per section 49 of the Bureau of Indian Standards Rules, 2018, if hallmarked jewelery purchased by the consumer is found to be of lesser purity than that marked on the jewelery, 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, it added.
Benefits of Hallmarking
Hallmarked articles are certification and confirmation of quality that offer consumers with the confidence of gold purity, a report by Zee explains. Required hallmarking protects consumers from lower karatage gold jewelery and ensures that buyers are not misled by jewelers and receive the purity specified in the product. This means that if a consumer purchases 22K hallmarked gold jewelery, it means that 22/24 of the pieces are gold and the rest is alloy, allowing him to calculate the purchase and resale worth of gold at the forefront, the report says.
When a consumer wants to discard it or exchange it for old jewelery, the purity of the gold cannot be disputed by another jeweler. With all of the specifics of the jewelery piece, the consumer can take the vendor to court.
The purity certification assists the consumer in receiving better value while also collateralizing it.
With input from PTI
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