Know what new law to be made by the government for the purchase of gold ornaments?
Saturday - April 27, 2019 2:41 pm ,
Category : WTN SPECIAL
20 carat gold jewelry can now be hallmarking mandatory
Hallmarking proposed on 20 carat gold jewelry with 24 carat Bullion
APR 27 (WTN) - Who does not like to buy gold? Particularly women get enough satisfaction to buy gold jewelry. The old saying is that in the worst time gold helps. The world's largest consumption of gold is in India. From the time of the auspicious time of purchase to marriages, there is a lot of buying of gold in India.
Well, to check the accuracy of the gold at the time of the purchase, you will surely check the mark of a hallmark on it. But for your information, let you know that hallmarking was only mandatory for only 14, 18 and 22 carat gold jewelry so far. According to the information, now the government is going to make hallmarking necessary for 20 carat jewelry and 24 carat bullion.
For your information, let you know that the Consumer Affairs Ministry is preparing to make hallmarking of 20-carat gold jewelry and 24-carat bullion mandatory. Preparation to notify the rules of mandatory hallmarking has also completed. For this, the DIPP and the NITI Aayog will have to give their suggestions till April 30. If there are no major changes in the suggestions from both the sides, then these new rules may apply before 7 May i.e. Akshaya Tritiya.
For your information, let you know that the related draft has issued by the government in the month of November, followed by a meeting with all the stakeholders in February. In the draft, there is a proposal to make mandatory the hallmark compulsory for the 24 carat bullion along with the 16, 18, 20 and 22 carat jewelry.
In fact, BIS hallmarking is a system of authenticating gold purity with silver. The sign of BIS proves that Jewel caters to the standard of the Bureau of Indian Standards. So, we advise you to make sure about the BIS hallmark on the gold jewelry before buying.
Well if gold jewelry is marked with a hallmark sign, then it means that its accuracy is certified. But it has been observed that many jewelers put a hallmark sign without completing the investigation process. Now whenever you go to buy gold ornaments, keep this in mind that hallmark sign on it is real or not? For your information, let you know that the real hallmark has a triangular mark of the Bureau of Indian Standards.
After the hallmark sign in the gold ornaments, you know that the gold ornaments, you have bought, has how much pure gold in it? In the sign of the hallmark, the information of the year of manufacturing as well as the manufacturer details are written. If you suspect the purchase of gold jewelry after the hallmark sign in it, you can go to a hallmarking center to check the jewelry. There are 700 hallmarking centers across the country, and you will get information about these centers from BIS website.
APR 27 (WTN) - Who does not like to buy gold? Particularly women get enough satisfaction to buy gold jewelry. The old saying is that in the worst time gold helps. The world's largest consumption of gold is in India. From the time of the auspicious time of purchase to marriages, there is a lot of buying of gold in India.
Well, to check the accuracy of the gold at the time of the purchase, you will surely check the mark of a hallmark on it. But for your information, let you know that hallmarking was only mandatory for only 14, 18 and 22 carat gold jewelry so far. According to the information, now the government is going to make hallmarking necessary for 20 carat jewelry and 24 carat bullion.
For your information, let you know that the Consumer Affairs Ministry is preparing to make hallmarking of 20-carat gold jewelry and 24-carat bullion mandatory. Preparation to notify the rules of mandatory hallmarking has also completed. For this, the DIPP and the NITI Aayog will have to give their suggestions till April 30. If there are no major changes in the suggestions from both the sides, then these new rules may apply before 7 May i.e. Akshaya Tritiya.
For your information, let you know that the related draft has issued by the government in the month of November, followed by a meeting with all the stakeholders in February. In the draft, there is a proposal to make mandatory the hallmark compulsory for the 24 carat bullion along with the 16, 18, 20 and 22 carat jewelry.
In fact, BIS hallmarking is a system of authenticating gold purity with silver. The sign of BIS proves that Jewel caters to the standard of the Bureau of Indian Standards. So, we advise you to make sure about the BIS hallmark on the gold jewelry before buying.
Well if gold jewelry is marked with a hallmark sign, then it means that its accuracy is certified. But it has been observed that many jewelers put a hallmark sign without completing the investigation process. Now whenever you go to buy gold ornaments, keep this in mind that hallmark sign on it is real or not? For your information, let you know that the real hallmark has a triangular mark of the Bureau of Indian Standards.
After the hallmark sign in the gold ornaments, you know that the gold ornaments, you have bought, has how much pure gold in it? In the sign of the hallmark, the information of the year of manufacturing as well as the manufacturer details are written. If you suspect the purchase of gold jewelry after the hallmark sign in it, you can go to a hallmarking center to check the jewelry. There are 700 hallmarking centers across the country, and you will get information about these centers from BIS website.
