Top News

• Big hit to jewelers if gold is sold without hallmark!
• Imprisonment or fine of lakhs of rupees?
• What exactly does the rule say?

Hallmarking Rules For Gold : Always check for hallmarks while buying gold jewellery. Hallmarking is mandatory in some districts as per BIS rules, but jewelers with a turnover of up to ₹40 lakh and certain jewelery are exempted. What exactly does the rule say” )

In India, gold is not only seen as an ornament but as an investment. So it is necessary to buy it carefully. For that, if you are buying gold jewellery, check the hallmarking on it. If not, then definitely check for hallmarking when shopping for jewelry. This helps in identifying the authenticity of the gold. The Bureau of Indian Standards (BIS) has established norms for hallmarking gold jewellery. But, these rules do not apply equally to every type of jewelery and every bullion. So what are the changes and how exactly do the rules apply?

In districts where mandatory hallmarking is required, hallmarking of gold jewelery is mandatory as per BIS norms. Bullion with an annual turnover of up to ₹40 lakh is exempted from the requirement of mandatory hallmarking. Additionally, certain types of jewelery and accessories are exempted under the rules.

Action against jewelers for violation of rules

If a bullion violates the mandatory hallmarking norms, BIS can take action against them. Jewelry samples may be taken during the inspection. Violations may result in legal action and fines. In some cases, BIS registration may also be cancelled.
Violation of such rules may result in fines and penalties as per BIS Act. In relevant cases, imprisonment up to one year or a fine of at least ₹1 lakh (1,00,000 USD) is possible. The fine can be up to five times the value of the item. Violation of some other rules can lead to imprisonment of up to two years and a fine of at least ₹2 lakh (2,00,000 USD).

Can you sell gold without antique hallmarks?

Old, unhallmarked gold kept at home is not illegal by itself. According to BIS, customers can sell their old, unhallmarked gold to bullion. Therefore, the absence of hallmarks on old jewelery does not necessarily mean that it is illegal.

Be sure to check the HUID when buying new jewelry

When buying new, hallmarked gold, be sure to check the HUID number on it. Customers can check HUID information through BIS Care app. This helps in verifying the hallmarking information on the jewellery. Apart from this, you should also take the bill of gold while buying it, so that you have a record of the purchase.