On April 1, 2023, gold jewelry and other related items will have to be marked. The government has stated that a Hallmark Unique Identification Number (HUID) will be required on all gold artifacts and jewelry sold after March 31. The move is meant to guarantee quality norms, and align the Indian adornments industry with worldwide guidelines.
As a result, old jewelry marked with four logos and lacking a HUID (Hallmark Unique Identification) number cannot be sold starting in the new fiscal year. Prior to the introduction of the six-digit HUID number, gold jewelry hallmarking consisted of four marks: the BIS logo, the purity of the article, the jeweler’s logo, and the Assaying and Hallmarking Centre.
Till now, the old hallmarked adornments with four imprints without HUID was likewise allowed to be sold by the diamond setters alongside the six-digit HUID mark.
About gold hallmarking
Regarding gold hallmarking, the process of certifying the purity of gold is known as hallmarking. India certifies gold and silver jewelry using the Bureau of Indian Standards (BIS) hallmark system to verify the metal’s purity.
One notable organization is BIS, which is in charge of hallmarking jewelry. Since the 2000s, BIS has had a hallmarking program in place.
The purity of the jewelry is supported by Hallmark. In addition, it requires manufacturers to adhere to the legal requirements for purity and fineness.
In June 2021, the BIS stated that hallmarking gold artifacts and jewelry is crucial. Through third-party assurance for the marked purity of gold and consumer protection, this was done to increase the jewelry’s credibility and customer satisfaction.
The BIS will only allow jewelers to sell gold jewelry and other items with purity certifications of 14, 18, and 22 carats beginning on April 1, 2023.
Penalty for noncompliance
Under the new regulations, a jeweler could be fined five times the value of the item or imprisoned for up to a year if they sell jewelry or other artifacts made of 14, 18, or 22 carat gold without the BIS hallmark.
Protection of customers
The government has mandated this in order to safeguard consumers from dishonest business practices and guarantee nationwide uniformity in gold quality standards. There are approximately 940 assaying and hallmarking centers in India, according to the BIS. Of these, 256 are in districts where hallmarking will be required in the first phase.