The Bureau of Indian Standards has increased the gold hallmarking fee by 67 percent.
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Rajesh Rokde
1 quote“But support for hallmarking does not mean that a nearly 67 per cent increase in the cost of mandatory compliance should pass without examination.”
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…with the existing fee until stakeholders have been consulted. "GJC and the jewellery industry have consistently supported hallmarking because purity assurance and consumer confidence are fundamental to our trade. But support for hallmarking does not mean that a nearly 67 per cent increase in the cost of mandatory compliance should pass without examination. Hallmarking volumes have expanded enormously. The industry, therefore, deserves to understand why the per-article charge needs to rise from Rs 45 to Rs 75 at this stage," said Rajesh Rokde, Chairman of the apex…
Avinash Gupta
1 quote“If the compliant route becomes progressively more expensive while informal and unauthorised channels continue to operate, the differential between the two widens.”
In the article
…follow the rules. GJC Vice Chairman Avinash Gupta said the hallmarking system also needs to remain commercially viable for businesses that comply with the requirements. "Compliance must remain commercially sustainable. If the compliant route becomes progressively more expensive while informal and unauthorised channels continue to operate, the differential between the two widens. That is not desirable either for the government, the industry or the consumer," Gupta said. He also flagged concerns within the industry over aggressive discounting and commercial incentives being offered as businesses…
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Sources1
- [1]The Times of IndiacriticalGold hallmarking costlier: Fee up 67% ahead of festive season; check details