GOLD HALLMARKING DEADLINE
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Jewellers getting more inquiries for gold after RBI withdraws Rs 2,000 notes
In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.
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Govt permits 16k-odd jewellers to sell "declared" old gold hallmarked stock till June-end
"Provided that if any person had already given declaration as required by the Bureau under sub-section 4 of section 18 of the Bureau of Indian Standards Act, 2016 (11 of 2016) declaring his old stock of gold jewellery or gold artefacts with old hallmarking as existed prior to July 1, 2021, such person shall be permitted to sell or display or offer to sell such declared stock of gold jewellery or gold artefacts up to June 30, 2023," the notification said.
You will not be able to buy this type of gold jewellery from April 1, 2023
The Bureau of India Standards (BIS) will not permit the sale of hallmarked gold jewellery or artefacts after March31, 2023 if those items lack a 6-digit alphanumeric Hallmark Unique Identification Number (HUID).
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Mandatory gold hallmarking rollout smooth in 256 districts, planning for wider implementation: Govt
Hallmarking, a quality certification, has been made mandatory with effect from June 23, 2021 for 14, 18, and 22 carat gold jewellery and artifacts in 256 districts of the country, where there is at least one Assaying and Hallmarking Centre (AHC).
Gold traders seek clarity on 20, 23, 24-carat inventory as hallmarking deadline nears
The trade has informed the BIS that since March 2020, due to the pandemic situation and lockdowns, a majority of jewellers could not dispose of their non-hallmarked stock. The trade has told the bureau that it would require more than a year to dispose of this.
Jewellery exporters seek clarification on exemption from mandatory hallmarking
GJEPC (Gems and Jewellery Export Promotion Council) said while the hallmarking order excludes exporters, the authorities should explicitly clarify that jewellers having transactions only in the export stream are completely excluded from the purview of this order.
Gold jewellery hallmarking deadline extended to June 15
“The government has accepted the request of stakeholders to give jewellers some more time to get prepared for implementation and resolve issues,” said a senior official.
400 new gold jewellery hallmarking centres to come up by end of next month
“The government has said that hallmarking will become mandatory from June 1. So, we too, are coming up with an adequate number of hallmarking centres to support the industry,” said Uday Shinde, president, Indian Association of Hallmarking Centres. “A standard hallmarking centre requires Rs 70- Rs 80 lakh to be set up.”
Government urged to extend deadline for mandatory hallmarking of jewellery by one year
GJC said that according to the recent data taken from the BIS website, there are 940 assaying and hallmarking (A&H) centres spread in 245 districts across India and the number of jewellers registered with BIS are 31,585. However, the percentage of districts in several key Indian states without hallmarking centres is very high.
Mandatory gold hallmarking to be implemented from June 1
The Centre, in November 2019, had announced that hallmarking of gold jewellery and artefacts would be made mandatory across the country from January 15, 2021. The government had given jewellers more than a year to shift to hallmarking and register themselves with the Bureau of Indian Standards (BIS).
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Leading retailers step up gold jewellery hallmarking ahead of deadline
BIS hallmarking has been made mandatory for gold jewellery of 14, 18 and 22 carat sold from June 1. Failure to comply could attract a penalty of up to five times the cost of the object and imprisonment up to one year.
Only 10% of Indian jewellers opt for hallmarked gold ahead of wedding season
If hallmarking is not done by the deadline, jewellers will not be able to continue their business. Small jewellers in tier 2 and tier 3 cities and in rural areas are particularly vulnerable while large organised retail chains stand to gain.
Jewellers seek yet another extension for mandatory hallmarking deadline
In July 2020, due to the pandemic, the government had extended the deadline of mandatory hallmarking of gold jewellery and artefacts by more than four months to June 1, 2021, from the earlier deadline of January 15, 2021.
GJC says govt needs to address issues for smooth implementation of mandatory gold hallmarking
"We have always been supportive of mandatory hallmarking and it will help in making the industry organised, compliant and will improve the image in the eyes of the customer. It is also essential that before implementing mandatory hallmarking the valid concerns of the industry should be addressed," GJC chairman Anantha Padmanaban said in a statement.
Jewellers unlikely to achieve 100% gold hallmarking by June 2021: IBJA
At present, only 30,000 jewellers out of the nearly 300,000 jewellers in the country are BIS certified and are selling hallmark gold.
Jewellers welcome government's move to further extend the deadline for mandatory hallmarking
In view of the coronavirus pandemic, the government on Monday announced the extension of a deadline for mandatory hallmarking of gold jewellery and artefacts by over four months till June 1, 2021.
Deadline for mandatory hallmarking of gold jewellery extended till June 1 next year: Paswan
The Centre, in November last year, had announced that hallmarking of gold jewellery and artefacts would be made mandatory across the country from January 15, 2021.
Jewellers, traders seek more time for hallmarking
Surendra Mehta, secretary, India Bullion & Jewellers Association, said they have already sent the proposal to the minister to extend the deadline, as it would not be possible for jewellers to implement hallmarking in the current pandemic scenario.
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Gold demand in China drops 12% to 241.3 tonnes in Q1-2016: WGC
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Gems & jewellery may re-enter US sans duty
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Jewellers body wants gold hallmarking deadline extended
The All India Gems and Jewellery Federation (GJF), an umbrella body for jewellers in the country, wants the government to postpone the January 1, 2008 deadline set for mandatory hallmarking of gold.
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