Union consumer affairs minister Ram Vilas Paswan on Tuesday said jewellers can sell only hallmarked jewellery and artefacts made of 14, 18 and 22 carat gold from January 15, 2021.
He further said violation of this will attract penalty, stated reports.
Paswan said a fine of Rs one lakh or five-times of the price of the gold article will be imposed on the jeweller who fails to comply with the hallmarking standard.
The hallmarking of gold jewellery being sold in the country will become mandatory from Wednesday but the jewellers will be given a year time to comply with the order, Paswan added.
Paswan said a notification in this regard will be issued by the Department of Consumer Affairs on Wednesday.
However, the jewellers will be given one year for implementation – till January, 2021.
He said once the notification comes in to force, gold and gold jewellery will be sold in only three categories – 14 carat, 18 carat and 22 carat.
Earlier, jewellery was being sold in the 9-carat category, too.
The purpose of making hallmarking mandatory for gold jewellery and artefacts is to ensure that consumers are not cheated while buying gold ornaments, Paswan reiterated.
Explaining the reasons for the one-year implementation period, Paswan said it will ensure that jewellers’ registration process can be completed and jewellers/retailers get time for clearing their old/existing stock.