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Economy
Mahesh

08/03/23 09:23 AM IST

Centre planning hallmarking of gold bullion mandatory

In News
  • Bureau of India Standards (BIS) has prohibited the sale of hallmarked gold jewelry or gold artefacts without 6 digit alphanumeric Hallmark Unique Identification Number (HUID) after 31st March 2023.
About Hallmarking
  • Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in precious metal articles.
  • Hallmarking was started by the BIS in the year 2000.
  • However, mandatory hallmarking was implemented in 288 districts of the country with effect from June 23, 2021, through the Hallmarking of Gold Jewellery and Gold Artefacts Order, 2022.
  • With the introduction of the HUID, the hallmark has three identifiers: the BIS logo, the purity of the article, and the six-digit alphanumeric HUID.
  • A consumer can check and authenticate hallmarked gold jewellery items with HUID number using ‘verify HUID’ in BIS CARE app which is available in both android as well as iOS.
  • It provides information of the jeweller who got the article hallmarked, their registration number, purity of the article, type of article as well as details of hallmarking centre which test and hallmarked the article.
Significance
  • As per BIS Rules, 2018, in case Hallmarked jewelry bought by the consumer is found to be of lesser purity than that marked on jewelry, then the buyer/customer shall be entitled for compensation which shall 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 is a tool to safeguard and protect the consumers and enhance their confidence in purchase of hallmarked gold jewelry with traceability and assurance of quality.
Source- PIB

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