Mandatory hallmarking of gold jewelry kicks in
Marking a major change in India’s favorite investment option, “mandatory” hallmarking of gold jewellery kicked off on June 17 in a “phased” manner from 256 districts of the country.
However, watches, fountain pens and popular style of jewelry such as ‘kundan’, ‘polki’ and ‘jadau’ are exempted from hallmarking. Small jewellers with less than Rs 40 lakh annual turnover are also exempted, BIS Director-General Pramod Kumar Tiwari said.
Women having traditional and old jewelry can also sell without going through the process. Old jewelry can be hallmarked as it is, if feasible by the jeweler or after melting and making new jewelry, he said. Jewelry for international exhibitions and for government-approved B2B domestic exhibitions will also be exempted from mandatory hallmarking.
