Gold Hallmarking Fee Hiked 67%, Jewellers Protest

SURAT :  Gold jewellery buyers could face another cost increase just as the festive and wedding season gets underway, after the Bureau of Indian Standards (BIS) raised the mandatory hallmarking fee for gold from ₹45 to ₹75 per article. The 66.7% increase has triggered strong opposition from jewellers, who fear the additional cost will ultimately be passed on to consumers.

The Jewellers’ Association has urged the government to roll back the hike or introduce a subsidy covering the additional ₹30 per article.

Prominent jeweller Deepak Choksi said the increase comes at a difficult time for the trade.

“Until now, we were paying ₹45 for mandatory hallmarking, a charge that has now been raised to ₹75. At a time when gold prices have surged and consumer demand is low, this 67% hike will place a heavy burden on the customer,” Choksi said.

Under the revised structure, hallmarking charges will be calculated according to the number of articles rather than their weight. The minimum fee per consignment, however, will remain ₹200. The fee payable by Assaying and Hallmarking (A&H) centres to BIS has also increased from ₹4.50 to ₹7.50 per article, with applicable taxes charged separately.

The silver hallmarking fee remains unchanged at ₹35 per article.

The jewellery industry says the timing of the hike is particularly concerning. Around 3 lakh jewellery pieces are currently submitted for hallmarking every day, while HUID has already been completed for around 60 crore pieces, according to industry figures.

“With the ₹30 difference, if the government does not wish to roll back the hike, it should at least provide a subsidy to cover that amount. We demand that the rate be reduced below the original ₹45 and that subsidies be provided to keep this business viable,” Choksi said.

He added that the impact could become more visible during the upcoming festive period.

“Navratri, Dussehra, Pushya Nakshatra, Diwali, Dhanteras and Labh Pancham are followed by the entire wedding season. When customers come to make purchases during these auspicious occasions, they will experience the significant impact of this price hike,” he said.