Gold Jewellery Rules: While buying gold jewellery, definitely check the hallmark. Hallmarking is mandatory in some districts under BIS rules, but jewelers with turnover up to Rs 40 lakh and some jewelery are exempted.
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Gold Hallmark News: If you are going to buy gold jewellery, then definitely check its hallmark. Because hallmark helps in identifying whether the gold is genuine. Bureau of Fixed Rules of India i.e. BIS has fixed the rules for hallmarking of gold jewellery. However, these rules do not apply equally to every type of jewelery and the hallmarking required by every jeweller.
In the districts falling under mandatory hallmarking, it is necessary to get the gold jewelery falling under the rules hallmarked as per the rules of BIS. At the same time, jewelers with annual turnover up to Rs 40 lakh have been exempted from mandatory hallmarking. Apart from this, certain types of jewelery and accessories are also exempted as per the rules.
Jeweler may face action for breaking rules
If any jeweler violates the mandatory hallmarking rules then BIS can take action against him. Samples of jewelery can be taken during investigation. If rules are found violated, legal action and fine can be imposed against the jeweler. In some cases, action may also be taken on BIS registration.
There are punishments and fines for breaking such rules under the BIS Act. In the related case, jail term up to 1 year or a fine of at least Rs 1 lakh can be imposed. This fine can go up to five times the value of the goods. For breaking some other rules, there is a jail term of up to 2 years and a fine of at least Rs 2 lakh.
Old unmarked gold kept at home is not in itself against the law. According to BIS, the customer can sell his old unhallmarked gold to the jeweler. Therefore, not having a hallmark on old jewelry does not mean that it is illegal.
While buying new jewellery, definitely check HUID.
While buying new hallmarked gold jewellery, definitely check the HUID number recorded on it. Customer can check HUID information through BIS Care App. This helps in verifying the information related to hallmarking of jewellery. Apart from this, while purchasing gold, its bill should also be taken, so that the record of purchase remains with you.