Gold Hallmarking Gets Costlier: BIS Raises Fee by 67%, Here’s What Gold Buyers Need to Know
Gold jewellery buyers are likely to pay closer attention to hallmarking as a major change in the cost of hallmarking has been introduced ahead of the festive and wedding season. The Bureau of Indian Standards (BIS) has increased the hallmarking fee charged for gold jewellery. The fee has gone up by around 67% , with the charge increasing from ₹45 to ₹75 for each gold jewellery article . The revision comes at a time when demand for gold jewellery typically becomes important during festivals and weddings. While the higher hallmarking fee is directly applicable to jewellers rather than customers, it could increase the cost of doing business for jewellery retailers. Here is what the new change means and what consumers should know before buying gold. Gold Hallmarking Fee Increased From ₹45 to ₹75 Under the revised fee structure, jewellers will now have to pay ₹75 per gold jewellery article for hallmarking. Earlier, the charge was ₹45. The difference is ₹30 per article, representing an incr...