BIS To Implement New Rule On Sale Of Gold Items From April 1
Hyderabad, March 31 (Maxim News): To protect the interests of consumers, the Bureau of Indian Standards (BIS) has issued a new rule that will come into effect from April 1.
The rule states that the sale of old hallmarked gold jewelry with four logos without a Hallmark Unique Identification (HUID) number will not be allowed after March 31.
HUID is a six-digit alphanumeric code consisting of numbers and letters that is given to each item of Jewellery at the time of hallmarking. This certification is a purity certification of the precious metal and it was voluntary until 16 June 2021. Now, it is mandatory to have a HUID number for all gold artifacts.
The new rule permits the sale of hallmarked gold jewelry and gold artifacts with only a six-digit alphanumeric HUID number, which will be permitted from April 1, 2023. The ministry has clarified that the hallmarked jewelry lying with consumers as per old schemes will remain valid.
It is important to note that if hallmarked jewelry purchased by the consumer is found to be of lesser purity than that marked on the jewelry, then the buyer/customer will be entitled to compensation, which will be two times the amount of difference calculated on the basis of shortage of purity for the weight of such articles sold and the testing charges as per section 49 of the Bureau of Indian Standards Rules, 2018. With the HUId number, buyers can verify the purity of the gold and can be assured that they are getting what they pay for.
So, if you’re planning to buy gold jewelry after March 31, make sure it has a HUID number to avoid any issues. and if you do end up buying jewelry that is of lesser purity than that marked on the jewelry, don’t hesitate to claim your compensation as per the BIs rules. (Maxim News)
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