Government of India Expands Mandatory Hallmarking to Additional 55 Districts In Third Phase
The Indian Government has rolled out the third phase of mandatory hallmarking in its ongoing endeavour to ensure the authenticity and purity of gold jewellery and artefacts. Effective as of 8th September, 2023, this development aims to cover an additional 55 districts under the hallmarking system
Budget 2023: What Jewellers Want?
Finance Minister Nirmala Sitharaman will present the budget on the Parliament on February 1, 2023. With the approaching central elections, popular consensus on this year’s budget is that it would be growth-oriented, with a focus on infrastructure, inflation, manufacturing and rural economy
Phase II of Hallmarking to be Implemented from June 1, 2022: GOI
Earlier exempted forms of gold jewellery like Kundan, Polki, Jadau proposed to be hallmarked
Second phase of gold hallmarking to start from June 1
The second phase of the mandatory hallmarking will cover additional three caratages of gold jewellery/artefacts such as 20, 23 and 24 carats, as mentioned in the Indian Standard IS 1417
BIS-recognized AHCs to test un-hallmarked jewellery of consumers
BIS has now made provision to allow a common consumer to get the purity of their un-hallmarked gold jewellery tested at any of the BIS recognized Assaying and Hallmarking Centres
BIS, Chennai region, steps up hallmarking efforts
Nearly 150 market samples are being lifted from registered jewellers in Chennai and its neighbouring districts and Puducherry every month and tested
1 crore pieces of jewellery hallmarked with HUID last month
Consumers can view the details of hallmarked jewellery, such as type of jewellery, purity, name of AHC, name of the jeweller, date of hallmarking, through the BIS Care app
Gold jewellery exports & gold articles exempted from mandatory hallmarking
The new BIS will strengthen the gold jewellery trade and provide boost to the gold jewellery exports from India
4.29 crore pieces hallmarked in July-Nov: Consumer Affairs Ministry
The government had made hallmarking mandatory from June 23 in 256 districts
BIS-registered jewellers triple due to mandatory hallmarking
The ripple effects of mandatory hallmarking are already being felt by the retail industry as the move has boosted consumer confidence in gold
G&J industry reacts sharply to proposed hike in GST to 5%
Industry players feel the move is ill-advised and ill-timed, as they are already grappling with challenges caused by the pandemic and HUID issues. If the proposal goes through, it will add a huge burden to the industry, finds out Suneeta Kaul
Jewellers go on strike against new hallmarking rules
Jewellers say hallmarking should be based on POS, and all other applications of storage, display, transit, and so forth, except sale, should be removed from the BIS Act
Mandatory hallmarking: Jewellers to go on strike on Aug 23
According to GJC, jewellers will go on a token strike on August 23 against ‘arbitrary implementation’ of hallmarking
National Task Committee set up to address concerns regarding hallmarking
Retail jewellery players are up in arms against the new hallmarking rules, which they consider unjust and arbitrary
Record-Keeping Of Cash Deals In Gems And Jewellery Trade Now A Must Under PMLA
For income tax purposes, cash transactions up to a threshold of Rs 2 lakh without KYC --PAN or Aadhaar -- are allowed in the gems and jewellery sector. Any sale in cash above Rs 2 lakh requires KYC
