News & Media 26th May 2022

Gold jewellery buyers to get purity hallmark on all types of gold articles from June 1

Authors

Nishant Shah Partner | Mumbai

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At present, as per the Bureau of Indian Standard’s (BIS) website, gold hallmarking is allowed for 6 purity categories. Thus, the jeweller does not have to mandatorily hallmark gold jewellery of other purity
before selling it. However, come June 1, this rule will change.
From June 1, 2022, jewellers can only sell hallmarked gold jewellery, irrespective of its purity. This would mean that every gold jewellery item irrespective of its caratage must be mandatorily hallmarked.

Against this backdrop, Nishant Shah, Partner, Economic Laws Practice (ELP) was quoted by The Economic Times in their article titled ‘Gold jewellery buyers to get purity hallmark on all types of gold articles from June 1’. He says “When hallmarking was made mandatory for gold articles, it was not mandatory for 6 categories only. This created an avenue for jewellers to avoid being mandatorily regulated by manufacturing jewellery which was in slight variation from these purity levels. The current amendment (effective from June 1, 2022) now makes hallmarking regulations applicable to all kind of gold jewellery and artefacts by removing these specific purity levels. Further, the current notification amends the list of districts where mandatory hallmarking will become applicable to gold jewellery.”

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