Gold Hallmarking Latest News Update: The rules of gold hallmarking will not be applicable simultaneously in the whole country from today, as we have already told that the jewelers have told the government that they are not ready to implement it completely yet.
New Delhi: Gold Hallmarking Latest News Update: The rules of gold hallmarking will not be applicable simultaneously in the whole country from today, as we have already told that the jewelers have told the government that they are not ready to implement it completely yet. In this connection, a meeting of jewelers with Commerce and Consumer Affairs Minister Piyush Goyal was held on Tuesday evening. Many important decisions have been taken in the meeting. In which it was decided that it would not be implemented simultaneously but would be implemented in several phases. Secondly, small jewelery traders have been kept out of the purview of gold hallmarking, which is a big relief.
Gold Hallmarking will be implemented in phases, not simultaneously
Piyush Goyal announced in the meeting that in the first phase, from today i.e. June 16, mandatory hallmarking will be implemented in 256 districts of the country, where hallmarking centers are already present. Giving time to all the jewelery traders for hallmarking on the old stock lying with them, the government has given time for 2 months i.e. till September 1. Till then they will have to get hallmarking done on the old stock. No fine or any punitive action will be taken against any trader during this period.
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Big relief to small jewelers
All jewelery dealers will have to do only one time registration, which will not even need to be renewed and this too will be absolutely free. Apart from this, Kundan, Polki jewelery and jewelery watches will remain out of the purview of hallmarking. Also, jewelers with annual turnover up to 40 lakhs will also be out of the purview of hallmarking rules. That is, the government has given big relief to small jewellers. Till the end of August, no action will be taken for following the rules of hallmarking. Along with this, apart from 14, 18, 22, the government has also approved hallmarking of 20, 23, 24 carat jewelry.
Apart from other business leaders, the National Secretary of All India Traders Association (CAIT) and National Convener of All India Jewelers and Goldsmiths Federation (AIJGF) also participated in this meeting. AIJGF is the largest association of small jewelers in the country. CAIT’s National President BC Bhartia and General Secretary Praveen Khandelwal have welcomed this move of the government.
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