Tuesday, June 6, 2023
  • CONTACT US
  • ABOUT US
  • TERMS OF SERVICE
Kashmir Glacier
  • News
    • Kashmir
    • Jammu
    • Ladakh
  • India
  • World
  • Sports
  • Business
  • Opinion
    • Editorial
    • Interview
  • Health
  • Weekly Edition
  • ePaper
No Result
View All Result
Kashmir Glacier
  • News
    • Kashmir
    • Jammu
    • Ladakh
  • India
  • World
  • Sports
  • Business
  • Opinion
    • Editorial
    • Interview
  • Health
  • Weekly Edition
  • ePaper
No Result
View All Result
Kashmir Glacier
No Result
View All Result
Home Business

Mandatory gold hallmarking in India from today

KG Business Desk by KG Business Desk
June 16, 2021
in Business, Latest News
0
Mandatory gold hallmarking in India from today
0
SHARES
380
VIEWS
Share on FacebookShare on TwitterWhatsApp

NEW DELHI: The mandatory gold hallmarking will be implemented from Wednesday in a phased manner, to begin initially with 256 districts, said the Union Ministry of Consumer Affairs, Food and Public Distribution.
“Continuing our government’s endeavour for better protection and satisfaction of customers, mandatory hallmarking in 256 districts will be implemented from June 16. No penalty will be imposed till August 2021. This will help develop India as a leading global gold market center,” tweeted Piyush Goyal, the Union Minister for Consumer Affairs and Food and Public Distribution.
As per an official release, jewellers with annual turnover up to Rs 40 lakh will be exempted from mandatory hallmarking.
“Hallmarking will be initially be starting from 256 districts of the country which have Assaying marking centres. Jewellers with annual turnover up to Rs 40 lakh will be exempted from mandatory hallmarking.. Export and re-import of jewellery as per Trade Policy of Government of India – Jewellery for international exhibitions, jewellery for government-approved B2B domestic exhibitions will be exempted from mandatory hallmarking.,” the release said.
It further informed that gold of additional carats 20, 23 and 24 will also be allowed for hallmarking.
However, watches, fountain pens and special types of jewellery– including Kundan, Polki and Jadau– will be exempted from hallmarking.
“Jewellers can continue to buy back old gold jewellery without hallmark from the consumer. In order to give adequate time to the manufacturers, wholesalers and retailers of gold jewellery, there would be No penalties till August end. Old jewellery can be got hallmarked as it is, if feasible by the jeweller or after melting and making new jewellery,” the Ministry added.
It further said a committee constituting representatives of all stakeholders, revenue officials and legal experts will be formed to look into the issues that may possibly emerge during the implementation of the scheme.
Notably, the hallmarking of gold jewellery was earlier set to begin from June 15.
Under hallmarking scheme of the Bureau of Indian Standards, jewellers are registered for selling hallmarked jewellery and recognise testing and hallmarking centres.
“BIS (Hallmarking) Regulations, were implemented with effect from June 14, 2018. Hallmarking will enable consumers/jewellery buyers to make the right choice and save them from any unnecessary confusion while buying gold. At present, only 30 per cent of Indian gold jewellery is hallmarked,” the release said.
The Hallmarking of jewellery/artefacts is required to enhance the credibility of gold jewellery and customer satisfaction through third party assurance for the marked purity/fineness of gold, consumer protection. This step is also expected to help develop India as a leading gold market centre in the world.
The Ministry noted that there has been a 25 per cent increase in Assaying and Hallmarking (A and H) centres in the last five years.
“The number of A and H centres has increased from 454 to 945 in the last five years. At present 940 Assaying and hallmarking centres are operative. Out of this 84 AHCs have been set up under government subsidy scheme in various Districts,” the release said.
“Presently A and H Centre’s can hallmark 1500 articles in a day, the estimated hallmarking capacity of A&H Centre’s per year are 14 crore articles (Assuming 500 articles per shift and 300 working days),” it added.
According to World Gold Council, India has around 4 lakh jewellers, out of this only 35,879 have been BIS certified. (AGENCY)

  • Facebook
  • Twitter
  • email
  • Print

Share this...

Share this:

  • Facebook
  • WhatsApp
  • Twitter
  • Telegram
Previous Post

DGP J&K sanctions meritorious scholarship of over Rs. 15.50 lakh in favour of 308 wards of serving Police personnel/SPOs

Next Post

Salman Butt along with Muzaffar Reshi distributes sanitizers and masks among the hawkers and street vendors in Srinagar

KG Business Desk

KG Business Desk

Related Posts

Qaimoh Kulgam Residents Seek Answers from PDD Over Electricity Tariff Disparity: Consuming Less Power, Paying More
Kashmir

Qaimoh Kulgam Residents Seek Answers from PDD Over Electricity Tariff Disparity: Consuming Less Power, Paying More

by Yasir Yousuf
May 11, 2023
Nishaan Sahib Hoisted By Budgam Youngster at Soras Lake
Kashmir

Nishaan Sahib Hoisted By Budgam Youngster at Soras Lake

by News Desk
May 2, 2023
Vipul Amrutlal Shah’s much hyped ‘The Kerala Story’ is on a mission to uncover the truth that was hidden, to release in cinemas on 5th May
Entertainment

Vipul Amrutlal Shah’s much hyped ‘The Kerala Story’ is on a mission to uncover the truth that was hidden, to release in cinemas on 5th May

by Kashmir Glacier News Desk
April 24, 2023
Anand Pandit announces two exciting Marathi projects
Entertainment

Anand Pandit announces two exciting Marathi projects

by Kashmir Glacier News Desk
April 24, 2023
Priyanka Chopra Jonas ushers in the era of the ‘Action Heroine’ in Hollywood
Entertainment

Priyanka Chopra Jonas ushers in the era of the ‘Action Heroine’ in Hollywood

by Kashmir Glacier News Desk
April 24, 2023
Next Post
Salman Butt along with Muzaffar Reshi distributes sanitizers and masks among the hawkers and street vendors in Srinagar

Salman Butt along with Muzaffar Reshi distributes sanitizers and masks among the hawkers and street vendors in Srinagar

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BJP organized Virtual Rally in Anantnag.

BJP organized Virtual Rally in Anantnag.

June 25, 2020
Tral shuts for second consecutive day against militant killings

Lockdown Hits Normal Life In J&K

February 5, 2022

Don't miss it

Kashmir

DC Kulgam felicitates Momin Ishaq, a young Innovator

June 5, 2023
Unabated Illegal Commercial Structures Under Construction in Kulgam Raises Concerns: Owners Fail to Comply with Guidelines
Kashmir

Unabated Illegal Commercial Structures Under Construction in Kulgam Raises Concerns: Owners Fail to Comply with Guidelines

June 3, 2023
Qaimoh Kulgam Residents Seek Answers from PDD Over Electricity Tariff Disparity: Consuming Less Power, Paying More
Kashmir

Qaimoh Kulgam Residents Seek Answers from PDD Over Electricity Tariff Disparity: Consuming Less Power, Paying More

May 11, 2023
Nishaan Sahib Hoisted By Budgam Youngster at Soras Lake
Kashmir

Nishaan Sahib Hoisted By Budgam Youngster at Soras Lake

May 2, 2023
Vipul Amrutlal Shah’s much hyped ‘The Kerala Story’ is on a mission to uncover the truth that was hidden, to release in cinemas on 5th May
Entertainment

Vipul Amrutlal Shah’s much hyped ‘The Kerala Story’ is on a mission to uncover the truth that was hidden, to release in cinemas on 5th May

April 24, 2023
Anand Pandit announces two exciting Marathi projects
Entertainment

Anand Pandit announces two exciting Marathi projects

April 24, 2023

Facebook Page Like

Follow me on Twitter

My Tweets

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 42,500 other subscribers

© 2021 Kashmir Glacier - Premium news & magazine theme by GITS.

No Result
View All Result
  • News
    • Kashmir
    • Jammu
    • Ladakh
  • India
  • World
  • Sports
  • Business
  • Opinion
    • Editorial
    • Interview
  • Health
  • Weekly Edition
  • ePaper

© 2021 Kashmir Glacier - Premium news & magazine theme by GITS.

Join WhatsApp