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

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-

Hallmarking will be initially be starting from.256 districts of the country which have Assaying marking centres.

Jewellers with annual turnover upto Rs. 40 lac will be exempted from mandatory Hall Marking.

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.

Gold of Additional carats 20, 23 and 24 will also be allowed for Hall Marking.

Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau will be exempted from Hall Marking.

Jewellers can continue to buy back old gold jewellery without hallmark from consumer.

In order to give adequate time to the manufacturers, wholesalers and retailers of Gold Jewellery, there would be No penalties till August end.

Old jewellery can be got hallmarked as it is, if feasible by the jeweller or after melting and making new jewellery.

A committee constituting of representatives of all stake holders, revenue officials and legal experts will.be formed to look into the issues that may possibly emerge during the implementation of the scheme.

Shri Goyal said that constructive suggestions are always welcome and implementation should be effective. It may be noted that Hallmarking of Gold Jewellery was earlier set to begin from 15th June 2021.

Under Hallmarking scheme of Bureau of Indian Standards, Jewellers are registered for selling hallmarked jewellery and recognise testing and Hallmarking centres. BIS (Hallmarking) Regulations, were implemented w.e.f. 14.06.2018. Hallmarking will enable Consumers/Jewellery buyers to make a right choice and save them from any unnecessary confusion while buying gold. At present, only 30% of Indian Gold Jewellery is hallmarked.

The Hallmarking of jewellery/artefacts is required to enhance the credibility of gold Jewellry and Customer satisfaction through third party assurance for the marked purity/fineness of gold , consumer protection. This step will also help to develop India as a leading gold market center in the World.

It is to be noted that there has been 25% increase in A&H centers in the last five years. The number of A&H centers have increased from 454 to 945 in the last five years. At present 940 Assaying and Hallmarking centers are operative. Out of this 84 AHCs have been setup under Govt. subsidy scheme in various Districts.

Presently A&H Centre’s can hallmark 1500 articles in a day, the estimated hallmarking capacity of A&H Centre’s per year are 14 crore articles (Assuming 500 articles per shift &300 working days.

According to World Gold Council, India has around 4 lakh jewellers, out of this only 35879 have been BIS certified.

CURRENT SUPREME COURT JUDGMENTS

Union of India Vs. Rajendra N. Shah & Anr-20/07/21 - These appeals raise an important question as to the vires of the Constitution (Ninety Seventh Amendment) Act, 2011 [the "Constitution 97th Amendment Act"] which inter alia introduced Part IXB under the chapter heading 'The Co-operative Societies'. The Constitution 97th Amendment Act was passed by the requisite majority of the Lok Sabha on 27.12.2011 and the Rajya Sabha on 28.12.2011.
K.P. Natarajan & Anr. Vs. Muthalammal & Ors-16/07/2021 - There is no dispute on facts and there is no escape from the conclusion that the respondents have been grossly negligent in defending the suit as well as the execution proceedings. But the fact remains that while the parties can afford to remain negligent, the Court cannot. The High Court has found, after summoning the records from the trial Court that as a matter of fact, the trial Court failed to appoint a guardian for the third respondent/minor in a manner prescribed by law.
Sachin Kashyap & Ors. Vs. Sushil Chandra Srivastava & Ors-15/07/2021 - Writ Petition having been filed for a particular cause and with a particular prayer cannot be expanded to cover within its ambit all the issues which may be of general or public importance without there being any pleadings or prayer with regard to a particular issue.
Madras Bar Association Vs. Union of India & Anr-14/07/2021 - The Madras Bar Association has filed this Writ Petition seeking a declaration that Sections 12 and 13 of the Tribunal Reforms (Rationalisation and Conditions of Service) Ordinance, 2021 and Sections 184 and 186 (2) of the Finance Act, 2017 as amended by the Tribunal Reforms (Rationalisation and Conditions of Service) Ordinance, 2021 as ultra vires Articles 14, 21 and 50 of the Constitution of India inasmuch as these are violative of the principles of separation of powers and independence of judiciary

EXECUTIVE ORDERS

Executive Order on Promoting Competition in the American Economy-09/07/2021 - The American information technology sector has long been an engine of innovation and growth, but today a small number of dominant Internet platforms use their power to exclude market entrants, to extract monopoly profits, and to gather intimate personal information that they can exploit for their own advantage.
Blocking Property and Suspending Entry Into USA of Certain Persons Contributing to Destabilizing Situation in Western Balkans-EO-08/06/21 - All property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in: any person determined by the Secretary of the Treasury, in consultation with the Secretary of State
Threat posed by military Industry of China- Biden Issued Executive Order-03/06/2021 - I find that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse constitute unusual and extraordinary threats, which have their source in whole or substantial part outside the United States, to the national security, foreign policy, and economy of the United States, and I hereby expand the scope of the national emergency declared in Executive Order 13959 to address those threats.
Improving the Nation’s Cybersecurity-EO 12/05/2021 - The United States faces persistent and increasingly sophisticated malicious cyber campaigns that threaten the public sector, the private sector, and ultimately the American people’s security and privacy. The Federal Government must improve its efforts to identify, deter, protect against, detect, and respond to these actions and actors. The Federal Government must also carefully examine what occurred during any major cyber incident and apply lessons learned. But cybersecurity requires more than government action.

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

© Advocatetanmoy Law Library

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