BIG - Only Hallmarked Jewellery to be sold from TODAY; Know 5 KEY decisions taken in this regard
Commodity Editor and Anchor at Zee Business Mrituenjay Jha said that today was a historic day for the jewellery industry and the consumers. Many important decisions were taken on gold hallmarking on Tuesday by the government in a meeting that was chaired by Commerce and Industry Minister Piyush Goyal. The meeting also had representations from the industry
Commodity Editor and Anchor at Zee Business Mrituenjay Jha said that today was a historic day for the jewellery industry and the consumers. Many important decisions were taken on gold hallmarking on Tuesday by the government in a meeting that was chaired by Commerce and Industry Minister Piyush Goyal. The meeting also had representations from the industry.
See 5 Key HIGHLIGHTS:
-- Jha said that only Hallmarked Jewellery will be sold in 256 districts from today. The Jewellery Industry recommended that it should be implemented in phased manner rather than being implemented on all over India basis as many locations don’t have hallmarking facilities or centres which can hallmark all the Jewellery.
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आज से गोल्ड ज्वेलरी हॉलमार्किंग अनिवार्य...
कल उपभोक्ता मंत्री की बैठक में क्या हुआ फैसला?
कैसे लागू की जाएगी हॉलमार्किंग की व्यवस्था?
— Zee Business (@ZeeBusiness) June 16, 2021
-- The move is being implemented in a phase-wise manner. Earlier it was proposed to implement it on a nationwide basis. The government agreed to a phase-wise implementation after the jewellers apprised the government that the hallmarking facility was not available on the all-India basis.
-- Another key takeaway was the decision that there would not be any action against jewellers who are unable to implement hallmarking by 1 September 2021. However, Jewellers have been asked to get their old jewellery hallmarked within this time.
-- Jha said that Jewellers whose turnover is less than 40 lakh will not be falling under the ambit of hallmarking rules. They will be free to sell hallmarked or non-hallmarked jewellery.
-- Jha said that the new rules will apply for mandatory hallmarking in jewellery of 6 karatages. Earlier it was proposed to hall mark jewellery of 14 karat, 18 carat and 22 karat. But now it has been decided to include 20 karat, 23 karat and 24 karat Jewellery also for mandatory hallmarking.
-- Items including Kundan Jewellery, Polki Jewellery, Gold Watches and Pens will not require hallmarking, Jha said.
Jha said that these are the 5 big decisions that were taken in Tuesday’s meeting and are going to be implemented from today in 256 districts.
Jha said that Zee Business will be doing shows on this issue for the whole day. During the day, he will be informing the impact of this decision on the people who have non-hallmarked jewellery.
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