Mandatory Hallmarking of Gold Jewellery Comes into force from 16th June 2021. Know the Decisions Taken by the Government

TAX CONCEPT

Mandatory Hallmarking of Gold Jewellery is going to come into force from tomorrow, 16th June, 2021.

Based on extensive consultations with stakeholders, following decisions were taken-

  1. Hallmarking will be initially be starting from.256 districts of the country which have Assaying marking centres.
  2. Jewellers with annual turnover upto Rs. 40 lac will be exempted from mandatory Hall Marking.
  3. Export and re-import of jewelry as per Trade Policy of Government of India – Jewellery for international exhibitions, jewellery for government approved B2B domestic exhibitions will be exempted from mandatory Hall Marking.
  4. Gold of Additional carats 20, 23 and 24 will also be allowed for Hall Marking.
  5. Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau will be exempted from Hall Marking.
  6. Jewellers can continue to buy back old gold jewellery without hallmark from consumer.
  7. In order to give adequate time to the manufacturers, wholesalers and retailers of Gold Jewellery, there would be No penalties till August end.

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