All gold jewellery to bear hallmark

Q Why is it in News ?  

The Centre will go ahead with its plan to mandate hallmarking of gold jewellery from June 1, 2021 . The plan had been delayed due to the COVID-19 pandemic. Gold hallmarking is a purity certification and is voluntary at present.

Q What is Hallmark Gold? 

• The process of certifying the purity and fineness of gold is called hallmarking.
• Bureau of Indian Standards, the National Standards Body of India, is responsible for hallmarking gold as well as silver jewellery under the BIS Act.
• If you see the BIS hallmark on the gold jewellery/gold coin, it means it conforms to a set of standards laid by the BIS. Hallmarking gives consumers assurance regarding the purity of the gold they bought.
• That is, if you are buying hallmarked 18K gold jewellery, it will actually mean that 18/24 parts are gold and the rest is alloy.

Q What are the components of Hallmark ? 

There are  four components one must look at the time of buying gold (they are mentioned in the laser engraving of a hallmark seal):

1. BIS Hallmark: Indicates that its purity is verified in one of its licensed laboratories
2. Purity in carat and fineness (corresponding to given caratage KT)
   • 22K916 (91.6% Purity)
   • 18K750 (75% Purity)
   • 14K585 (58.5% Purity)
3. Assaying & Hallmarking Centre’s mark
4. Jeweler’s unique identification mark

Q Why such a move now? 

• As per the new rules, if jewellery or an artefact made of 14-, 18- or 22-carat gold is sold without the BIS hallmark, the jeweller could be penalized five times the cost of the object or imprisoned for up to one year.
• About 40% of gold jewellery is sold with a hallmark.
• Mandatory hallmarking would protect the public against lower caratage and ensure consumers did not get cheated while buying gold ornaments and got the purity as marked on the ornaments.