Silver Hallmarking: There is going to be a change in the way of buying and selling for those who buy and sell silver and jewellery made from it. Like gold, the rule of hallmarking will soon be implemented on silver as well.
Silver Hallmarking: There is going to be a change in the way of buying and selling for those who buy and sell silver and Jewellery made from it. Like gold, the rule of hallmarking will soon be implemented on silver as well. The government is working fast in this direction. Hallmarking has been implemented in some phases in gold and bullion, but some technical problems are being faced in implementing it on silver. The government is considering implementing it after solving these problems.
This is the biggest challenge
According to experts, the biggest problem in marking the hallmark unique identification on silver is that it can be easily erased from the silver. Currently, the government is trying to find a solution to this issue. Technical solutions are being considered for this.
This unique ID is a six-digit code verified by the Bureau of Indian Standards, which is not repeated on any jewellery. This enables the customer to get the correct and full price of his jewellery. Not only this, if needed or at the time of remaking that jewellery, it can be easily sold, because BIS certification is on that jewellery. Apart from this, if a customer has a dispute regarding the purity of the jewellery, then he can also take legal help with the help of the special ID.
Benefits of Hallmarking
Accuracy- This ID is used to ensure that the jewellery is of the correct carat and conforms to the standards. It is a symbol of trust that the jewellery is certified.
Fraud Protection- This unique ID makes tracking of every jewellery possible. This helps in identifying fake or adulterated gold. This gives customers the confidence of the authenticity of the Bureau of Indian Standards.
Transparency- Hallmarking provides complete details of the jewellery, such as: purity, carat, correct measurement and weight, details of the jewellery manufacturer and place of sale.
Supervision- With this ID, the government can keep an eye on the trade of these precious metals and curb smuggling. This can help curb black money and illegal gold trade.
This rule on Gold is applicable from 2021
BIS hallmarking is applicable in India from 16 June 2021. Hallmarking has been made mandatory in some areas. Now it is mandatory to have BIS mark, purity grade and ID on the jewellery. Customers can check the purity and authenticity of the jewellery through the ID code using the BIS mobile app or website.
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