Mandatory hallmarking of gold jewellery comes into effect from 16th June, 2021. Few features of the scheme are given below:
- Hallmarking will be initially be starting from.256 districts of the country which have Assaying marking centres.
- Jewellers with annual turnover upto Rs. 40 lac will be exempted from mandatory Hall Marking.
- Export and re-import of jewelry as per Trade Policy of Government of India – Jewellery for international exhibitions, jewellery for government approved B2B domestic exhibitions will be exempted from mandatory Hall Marking.
- Gold of Additional carats 20, 23 and 24 will also be allowed for Hall Marking.
- Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau will be exempted from Hall Marking.
- Jewellers can continue to buy back old gold jewellery without hallmark from 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.