What the hallmarking of gold means for you
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What this means
Gold hallmarking has been a voluntary certification until June 16. It helps a consumer know the purity of gold, while maintaining a standard rate for resellers and uniform gold valuation.
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Implementation
Mandatory hallmarking will be implemented in 256 districts across the country, initially. These districts have Assaying marking centres. There will be no penalty imposed until August-end.
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Exemptions
After consulting stakeholders, some have been exempted from hallmarking. Jewellers with an annual turnover below ₹40 lakh will be exempted, among others.
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Buying back of jewellery
Jewellers that are buying back old jewellery from consumers can continue to do so without a hallmark.
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Not for all gold
The government has also said that hallmarking will not be used for watches, fountain pens and Kundan, Polki and Jadau jewellery.