Last Updated on April 15, 2023 by Sravan
Are you buying Gold..!!!
Whether it is a Gold necklace, Gold bangles, or Gold ring..!!
No matter what design you buy or how you bought gold so far..!!
But from 1st April, 2023, whatever Gold ornaments you are going to buy, if you do not check 3 Mandatory Hallmarkings, then, you will lose your money.
Let’s see how..!!
BIS Hallmark New Rules
As per the Bureau of Indian Standards (BIS), Manufacturer / Wholesaler / Distributor / Retailer involved in selling hallmarked gold jewellery, it must have a 6-digit Alpha-Numeric HUID [Hall mark Unique Identification Number] marked on each gold ornament. It is a Mandatory procedure.
It means, BIS has prohibited the gold shops from selling gold without HUID. If you buy such gold, without having such HUID, further there will be a chance that your gold ornament rate will decrease or you won’t get the proper market price when you try to sell it.
So, when you buy gold, apart from simply whether you like the ornament or not, instead check whether the ornament has the Unique 6-digit HUID number on it or not. This should be marked on every ornament.
3 New Hallmarking rules
Now let’s look at the 3 things you need to check in Gold hallmark
1. BIS Logo
2. Purity of gold.
It will be mentioned in In carats. That means, whether the jewellery is of 22 carats 24 carats can be identified.
3. After that, 6-digit Alpha Numeric HUID should also be compulsorily on the ornament.
One more thing you need to remember is, HUID mentioned on jewelry is traceable. Any gold ornament which was Hallmarked after 1st July 2021 has to be Hallmarked with this new 6-digit HUID. Don’t buy it even if it is sold as an old gold. Finally, you will lose it.
How to check HUID
An ornament having HUID can be considered an original Gold..!!
Let’s see that too..!
For that you need to check the HUID mentioned on the gold jewelry whether it is 24 carat gold or 22 carat gold.
8 Steps to Check HUID:
Step 1: You download this app called “BIS Care” app from Google Store.
Step 2: Find the Ornament HUID
Once your ornament selection is over and before you are going to make the payment you should find the Ornament 6-digit Alpha Numeric HUID.
Step 3: Now open the “BIS” Care app on your phone
Step 4: Tap on “Verify HUID” here.
Step 5: Enter “6-digit Alpha Numeric HUID” which appears on the Ornament Eg: YZ45B7
Step 6: Once entered, Tap on the “Search” button
Step 7: If your HUID is correct, Your ornament details will be displayed like this.
– Who has hallmarked this Jewllery i.e. Jewelry shop name will appear here Eg: Lalitha, Kalyan Jewellers, etc.,
– Jewelry Registration Number
– Name of Assaying & Hallmarking Center, Center Recognition number, and their address.
Also if you look at the bottom,
– Article type like I took a chain, You see “Black beed chains” here.
In that way, you can match your physical ornament with the displayed HUID details and if the details matches, you can buy the ornament.
Step 8: In case your HUID is not found. It is not suggested to buy such ornament/jewelry.
Want to watch a Video (In Telugu)..!!
I hope you understood the Gold hallmark concept.
Please Comment “GOOD” if you like the article and it encourages us. Also, share this article with your Finance related Friends & Family…Thanks for reading..!!!
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Author is a Qualified CMA with rich industry experience for more than 6 years. He is an All India Ranker (AIR-101) in CMA and also a Semi-Qualified Chartered Accountant having a quite good experience in teaching the subjects of Accounting and Costing to the commerce aspirants.