New Gold Hallmarking Rules; Here's All You Should Know

Are you looking to buy gold? But find yourself engaging with the unsetting task of differentiating between the genuine and its fake equivalents. Then CA Sakchi Jain a renowned finance influencer and a digital content creator unveils a powerful tool designed to clarify the distinction between real and fake gold. Last year the government introduced new rules on buying gold jewelry. 

About the New Rules:

From 1 April 2023, the BIS (Bureau of India Standard) has strictly forbidden the selling of hallmarked gold jewelry or gold artifacts without a 6-digit alphanumeric Hallmark Unique Identification Number (HUID).

What is HUID? 

HUID ( Hallmark Unique Identification) is a system used in the jewelry industry to assign a unique alphabetic code to each piece of gold jewelry after it has been tested for quality and purity during the marketing process. This code helps identify and authenticate the jewelry, to make sure that it meets certain quality standards and purity levels. The hallmark will give assurance to customers about the gold's purity. 

Hallmarking Sign on gold jewelry:

1. BIS logo (Bureau of Indian Standard).
2. 6-digit HUID code.
3. Purify grade.

How to check the gold purity or quality?

BIS care app ( Bureau of Indian Standard) provides the customer to check the quality and purity of gold. Also Provides the consumers with the facility to lodge complaints regarding the following issues:

1. Quality of product.
2. Misuse of ISI mark/Hallmark/Registration.

How can this new rule benefit customers? 

The HUID enables purchasers to verify jewelry's claims regarding the integrity of gold jewelry. The BIS care app can verify the HUID code imprinted on the gold jewelry... Hence if a jewelry is imprinted with a bogus HUID code, a customer can verify it and file a complaint against the jewelry store.

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Through the invaluable guide of Sakchi Jain about the hallmark code approved by the government, consumers are equipped with a powerful tool to safeguard their interest and ensure the authenticity of their gold purchase.