These rules have to be fulfilled before selling old jewelry, otherwise you will not be able to sell
People often see gold jewelery as an emergency fund. If you also have a lot of gold lying idle at home and you are thinking of selling it, then this news is useful for you. Till now you used to sell or exchange your gold jewelery without any rules. But now it will not be easy to do so. Now the government has fixed the rules for this.
As per the government rules, now no one can sell or buy Bima Hallmarked jewellery. If you want to sell your old gold, then it is necessary to get it hallmarked.
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This is the rule of the government
From 1 April 2023, the government had implemented rules regarding buying and selling of gold ornaments. Under this rule no one can buy or sell jewelery without hallmark or 6 digit HUID number. Fraud cases often come to the fore in jewelery without hallmarks. To stop this, the government has implemented this rule.
Hallmarking is necessary
According to BIS i.e. Bureau of Indian Standards, if someone has old jewelry without hallmark, then it will be necessary to get hallmarking done on it. Hallmarking gives information about the purity of gold. However, anyone can get hallmarking done. Before April 1, gold ornaments were sold even without hallmarking. In such a situation, many people have old jewelry without hallmark. Which they would like to exchange or sell.
This is how hallmarking can be done
If you want to get hallmarking done on your jewelry or gold articles, then you can also do it yourself. For this, you have to take your gold item to the hallmarking center. For Hallmarking, you will have to pay Rs 45 for an item at the centre. After paying the hallmarking fee, your goods will be hallmarked as per the new rules. Now you will see 6 digit HUID number printed on it. Which will be the proof of its purity.
Please tell, this rule does not apply to some things. For example, any businessman whose annual turnover is 40 lakhs or more is out of this rule. At the same time, hallmarking is not necessary on gold ornaments of less than 2 grams.
