Gold: As per government regulations, gold jewelery which is not hallmarked cannot be sold. If you have old unhallmarked gold jewelery to exchange or sell, you need to hallmark it with HUID.
Gold Hallmark Update: The government has recently made new rules regarding the sale of gold items such as jewellery. These rules are meant to bring more transparency to the sale of gold items and ensure that customers are not cheated.
From April 1 this year, all gold jewelery must have a Hallmark Unique Identification (HUID) number. If you have old unmarked gold jewelery and want to exchange or sell it, you must get it hallmarked. Take a detailed look at the new rules regarding the sale of gold artefacts.
A hallmark unique identification number on the gold piece gives the product a unique character. It also ensures that the gold item has the promised purity. Gold items must have a purity mark. For example 22-carat and Bureau of Indian Standards (BIS) logo.
According to government regulations, gold jewelery without hallmarks cannot be sold. If you have old un-hallmarked gold jewelery to exchange or sell, you need to hallmark it with HUID.
Note that if your jewelery is already engraved with old/earlier hallmarks, you don’t need to go through the hallmarking process. In this case, gold without HUID is accepted.
Apart from this, gold below two grams, jewelery intended for international exhibitions, any item intended for export as per the specific requirements of a foreign buyer and fountain pens, watches or special types of jewelery are exempted from hallmarking.
Consumers can get jewelery tested from any BIS-accredited hallmarking centre. If the number of items to be tested is five or more, the individual will pay Rs. 45 to be paid. If there are four articles in the consignment, the charge will be Rs. 200 will be.
You can also get their jewelery hallmarked by a jeweler registered with BIS. The jeweler takes the item to the BIS Assaying and Hallmarking Center for processing.
The new hallmarking rules will make the process of buying gold more transparent and maintain the quality of the products. Jewelers who fail to get the gold hallmark can be jailed for one year, fined five times the price of the gold jewelery or both.
