Due to the COVID-19 epidemic, the center has extended the mandatory hallmarking deadline for gold jewelery and artifacts to June 15. The decision was taken at a meeting chaired by Consumer Affairs Minister Piyush Goyal. It was anticipated that it would be implemented from 1 June 2021. Explain that the Trade Union Confederation of All India Traders and Jewelery Industry traders for the implementation of Hallmarking had urged the Government to extend the date of June 1, 2021. Given the current situation, the government has accepted their demand.
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The hallmarking deadline is many times higher
The date of the introduction of hallmarking has been extended several times across the country. It was supposed to take effect in January 2021, but due to Corona the deadline was increased to 1 June 2021. It has now been increased to 15 June 2021.
It is important to visit Hallmark Gold as soon as possible: Goyal
According to the Live Mint report, a committee was formed to ensure proper coordination and address issues related to its implementation. On this occasion Piyush Goyal said that gold jewelery in India must be of the highest quality in the world. That said, customers should get Hallmark certified gold as soon as possible without any delay.
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Why hallmarking jewelry is important
Hallmarking is necessary to protect consumers from counterfeit jewelry and monitor the jewelry business.
The advantage of hallmarking is that when you go to sell it, no depreciation expense is deducted. That means you should be able to get the right price for gold.
In hallmarking, gold passes through several stages. In such a situation, there is no room for disturbances in its purity.
In addition, according to the BIS law passed last year, anyone who violates the hallmarking rules will be fined at least Rs 1 lakh and up to 5 times the value of jewelery and one year.
