As per the notification issued by Indian Standards Bureau (BIS) On March 4, 2022, the hallmarking fee for gold jewelery and artefacts has been increased to Rs 45 per item from Rs 35 earlier. Similarly, the hallmarking fee for silver jewelery and artefacts has been increased to Rs 35 per item from Rs 25 earlier. However, the minimum consignment fee for hallmarking of gold and silver jewellery/ artefacts has not been increased.
The hallmarking price of a piece of jewelery is a flat fee irrespective of the weight of the gold jewellery.
Nishant Shah, Partner, Economic Law Practice, says, “The Bureau of Indian Standards under the Department of Consumer Affairs has revised the hallmarking charges for gold and silver articles for the first time since the introduction of hallmarking regulations in 2018. comes almost 4 years after its introduction”.
hallmarking of jewelry
Gold jewelery buyers should note that hallmarking of gold jewelery and artefacts has been made mandatory with effect from June 1, 2022, irrespective of its purity. So, if you are buying gold jewelery now, the jeweler cannot sell it to you unless it is hallmarked. However, hallmarking of silver jewelery and artefacts is not mandatory. If a customer wishes to buy hallmarked silver jewellery, he can request the same from the jeweler at the time of purchase.
hallmarked gold signs
In addition, the government has revised the hallmarking signs for gold jewellery. From July 1, 2021, hallmarked gold will have the following three indications:
a) to mark
b) purity and fineness grade
c) 6 digit alphanumeric code. The 6-digit alphanumeric code is also called the Hallmark Unique Identification (HUID) number. This number is unique for every gold jewellery. Customer can verify this HUID number on BIS Care App.
Presently, BIS has allowed gold hallmarking Only in these six categories – 14K, 18K, 20K, 22K, 23K and 24K. Thus, if a piece of gold jewelery has a stamp of 18K750, it means that the particular jewelery has 75% gold fineness.