Govt Extends Deadline Of Mandatory Hallmarking Of Gold Jewellery Till June 15

In 2019, the government had made mandatory hallmarking of gold jewellery and artefacts across the country from January 15, 2021. However, the deadline has been extended owing to pandemic.

With a view to offering some breather during the pandemic, the government has further extended the deadline for mandatory hallmarking of gold jewellery and artefacts till June 15. The decision related to the extension was taken at a meeting chaired by Consumer Affairs Minister Piyush Goyal. From 15 June, jewellers will be allowed to sell only 14, 18 and 22 carats of gold jewellery.

In 2019, the government had made mandatory hallmarking of gold jewellery and artefacts across the country from January 15, 2021. However, the deadline was extended for four months till June 1 after jewellers sought more time in view of the pandemic.

What is gold hallmarking?

Gold hallmarking is a purity certification of the gold medal is voluntary in nature till now. The hallmarking of jewellery/artefacts is basically aimed at determining the credibility of gold jewellery and customer satisfaction through third party assurance for the marked purity/fineness of gold, consumer protection. 

According to the Bureau of Indian Standard, mandatory hallmarking will protect the public against lower caratage and help consumers from being cheated while buying gold ornaments and get the purity as marked on the ornaments.

Meanwhile, after the precious metal soared to a nearly 4-month high, it fell on Tuesday. On MCX, gold futures were down 0.22 per cent Rs48,444 per 10 gram. In global markets, gold rates slid as improved risk appetite pushed global equity markets higher.

The BIS has been running a hallmarking scheme for gold jewellery since April 2000. Around 40 per cent of gold jewellery is being hallmarked currently.

(With inputs from PTI)