When you talk about Indian jewellery, gold is the first thing that comes to your mind. The fascination and love for gold jewellery have always been there in India. Gold jewellery is not only a statement of fashion but also a long term investment because the value of gold continues to appreciate year after year.
From the traditional styles to the modern ones there are several gold jewellery designs from which you can choose from. But how can you be sure about the purity of the gold jewellery that you choose to buy? Look for the BIS hallmark on the gold jewellery.
Hallmarking: What Is It?
Hallmarking refers to determining the accurate content of precious metal in an article made of a precious metal like gold or silver and recording it officially. This guarantees the purity of the precious metal used in a specific article.
What Do You Mean By BIS Hallmark?
BIS or the Bureau of Indian Standards is the agency for accreditation that has the authority to certify and give a hallmark for all precious metals including gold, in India. This is based on the standard specifications set in India.
The marks are allotted to the jewellers on the successful completion of testing and evaluating the articles of gold. The hallmark includes the following:
- The identification mark of the jeweller.
- Mark of the hallmarking agency.
- Carats of gold (grade of purity).
- BIS stamp.
- The year – denoted by a code (Letter of the alphabet for each year).
The hallmarking is done using a laser machine or using punches. The jeweller has to get it done through an agency for hallmarking recognised by the BIS.
How To Get A BIS Hallmark Registration?
To get a BIS hallmark registration the jeweller has to do the following.
- They can either apply for it online or submit an application in person at the BIS branch office closest to their store location.
- Submit an online application and attach all self-attested copies of the supporting documents by uploading it online or,
- Submit all the hard copies of the documents along with the duly filled application form at the closest BIS agency.
- Enclose the fee prescribed.
- Once the application form and the documents are evaluated successfully the registration will be granted.
- The maximum time taken is 5 working days.
Copies of the following documents have to be attached along with the application form.
- Proof of establishment of the jewellery firm.
- Registration certificate.
- Certificate from a chartered accountant.
- Partnership deed.
- Address proof.
- Rental agreement.
- Certificate of registration.
- Proof of identity of the applicant.
- Election ID card.
- Drivers License.
- Aadhaar Card.
- A map that clearly shows the location of the jewellery store along with the major landmarks close by.
- Proof supporting the annual turnover of the jewellery firm.
Fee for registration
The fee for obtaining a license for hallmark is as follows.
- Rs.7500 – up to Rupees 5 Crores (Annual Turnover).
- Rs.15,000- between Rupees 5 Crores and Rupees 25 Crores.
- Rs.40,000- between Rupees 25 Crores and Rupees 100 Crores.
- Rs.80,000- above Rupees 100 Crores.
The hallmark on the jewellery assures you of the credibility of the gold that you choose to buy. Since gold is quite expensive it is important that you understand its purity. Besides, the gold jewellery that is hallmarked is also much easier to sell. There is absolutely no reason for the buyer to be worried about its quality.
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