: Traders urged Piyush Goyal to extend last date for hallmarking of old jewellery stock #FinanceIndia #StockMarketNEWS Traders urged Piyush Goyal to extend last date for hallmarking of old jewellery

@StockMarketNEWS Mon 16 Aug, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Traders urged Piyush Goyal to extend last date for hallmarking of old jewellery stock #FinanceIndia #StockMarketNEWS
Traders urged Piyush Goyal to extend last date for hallmarking of old jewellery stock New Delhi, Aug 13 (KNN) The Confederation of All India Traders (CAIT) and the All India Jewellers and Goldsmiths Federation (AIJGF) have sent a joint letter to the Union Minister of Commerce and Consumer Affairs, Piyush Goyal, urging him to extend the last date of hallmarking.

In the letter, CAIT and AIJGF said that the last date for hallmarking of old goods kept with bullion traders before July 1 should be extended for one year from August 31, 2021 so that lakhs of gold traders of the country can get their old goods hallmarked to comply with the rules and regulations of the government.

CAIT National Secretary General, Praveen Khandelwal and AIGJF National President, Pankaj Arora said that to prevent counterfeit hallmarks, the government should make it mandatory where the goods are made and HUID should be stopped from being transferred to the retailer or customer on the portal and to the retailer, no one should be required to keep a record of it.

They also suggested that the weight of change in alternation of jewellery should be increased from 2 grams to 5 grams and notification for this should be issued soon.

They also said that the edit button will be available soon to rectify the weight related mistakes on the portal.

The duo further suggested that *Mix lots should also be accepted for hallmarking and minimum one/two pieces should also be hallmarked and XRF should be valid as basis for hallmarking the goods of the order by making necessary changes in IS1417.

They said that the necessary information about jewellery should be given at BIS Care Camp.

As hallmark centres are very less across the country and it is mandatory for lakhs of bullion traders across the country to get hallmarked on thousands of pieces of old stock. From this point of view, it is necessary to extend the last date of hallmarking so that the rules of the government can be fully complied with, they concluded.