Gold prices hit record highs, purchasing for the festive season is at its peak, confirming the authenticity of your gold jewellery has never been more critical. With the rise in demand during this festive season, the Indian government has introduced mandatory hallmarking to protect consumers from fraudulent practices in the market.
Therefore, we are sharing a step-by-step guide on how to check the hallmark and what compensation you’re entitled to if you find your gold is impure.
Gold Purity Checks: Government’s Hallmarking Rules
In order to control fraud, the government of India has made it compulsory for all gold jewellery to be hallmarked. This comprises the logo of Bureau of Indian Standards (BIS), the mark of purity (18K, 22K, 24K), and a Hallmark Unique Identification Number (HUID) of 6-digit. As of March 31, 2023, the HUID has now become a compulsory feature for all the hallmarked jewellery.
This system aids to verify the purity of gold along with its declaration to meet the quality and standards.
How to Check the Hallmark on Gold Jewellery: A simple step-by-step guide
1. Check the Hallmark:
Make sure that your jewellery has the logo of BIS, mark of purity, and HUID number which is clearly visible.
2. Download the BIS Care App:
The App is available on Android and iOS, the BIS Care app lets you scan and examine the 6-digit HUID.
3. Validate the Details:
Enter the HUID in the app to have detailed information regarding the jewellery, together with:
o The registration number of jeweler
o The gold’s purity status
o The details about the hallmarking center
4. Check for the Inconsistencies:
If the app shows conflicting information or no data, it’s a sign that the gold might not be authentic.
What to Do If Your Gold Is Impure
If the jewellery is found to be of substandard or of lower purity than specified, you are eligible to compensation under Indian law. The compensation is twice the difference between the price you paid along with the actual value of the gold based on its purity shortage. You, therefore, can claim the testing charges as well.
With these steps, consumers can safeguard their investment and ensure a genuine gold.
Also Read: Gold Prices Hit Record Highs: Is It The New Oil Price Surge In The Making?
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
He is committed to entrenched data, facts, research, solutions, and a dedication to value-based journalism. He has covered trade tariff wars, international alliances, corporate policies, government initiatives, regulatory developments, along with micro- and macroeconomic shifts impacting global fiscal dynamics.
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