Hallmark Registration in India
In India, jewelry is unique to every individual, and on every occasion, it adds a lot of value and emotion. So, while buying jewelry a customer needs to be very careful in terms of the purity of the gold, no matter where you are buying it or how much you are paying for it. Every jewelry in India requires certification and authorized registration. The license is called a hallmark license, it gives purity to the metal.
Our Fee Structure:
Market Price : 7000/-
MFA Price : 2499/-
What is a Hallmark?
A hallmark is a mark or a stamp that is mostly affixed on items of trade, gold and silver items, to indicate the purity, genuineness, and origin of the product. Earlier it was not mandatory, however, with effect from 16.06.2021 it has been made mandatory on articles made of gold and silver.
It is highly likely that unmarked gold and silver items are not authentic and are not pure. A hallmark is the best way to identify whether a product is genuine or not. It purely provides credibility with respect to the product. Furthermore, having a hallmark on gold or silver jewelry has the advantage that it is easy to sell in the market as it describes its authenticity which is lacking in products that do not have a hallmark.
Benefits of Hallmark?
- Hallmarked goods are readily sold by the buyer, as are not hallmarked, an identification indicating the purity of the product.
- It helps the seller to identify the purity of the item.
- It helps in the quick valuation of gold or silver articles.
- The authenticity of the purchased product is assured.
- BIS (Bureau of Indian Standards) acts as proof of the purity of the product. Without knowing the authenticity of the item, the buyer may have to pay more than the actual cost of the product.
- Security in respect of facing fraud.
Is it mandatory to get a Hallmark license?
The Indian government had notified the rules and regulations for hallmarking gold and silver jewelry but the decision is still pending as the government is also deciding when to make it mandatory. Many small jewelers in rural as well as urban areas are selling non-hallmarked jewelry, however, BIS has issued a warning to unregistered jewelers not to sell hallmarked and non-hallmarked jewelry.
In any case, the Bureau of Indian Standards (BIS) warning will create awareness if there is a delay in mandatory hallmarking on the part of the government.
How to identify hallmarked jewelry?
An identifier can quickly identify hallmarked (gold and silver) jewelry as it consists of four (4) identification notes-
- The BIS hallmark logo is present on the jewelry
- The purity status number of the gold ornaments will be
- BIS Assay Center Logo
- jeweler’s logo or code
Who can apply?
Hallmark registration is granted on gold and silver jewelry products after inspection by BIS laboratories at the regional center. Contact us today at My Financial Advisory for hallmark registration in india.
Hallmark Certification Documents Required
A jeweler can apply for a Hallmark license if he fulfills the following requirements for the application for Hallmark approval:
- Registered company certificate
- Proof of report showing the business premises of the jeweler
- Signed BIS Hallmark Application
- Identity proof of the person applying for the form
- hallmark license fee payment
- Signing the agreement as per the prescribed format.