{"id":43715,"date":"2022-05-25T12:21:55","date_gmt":"2022-05-25T06:51:55","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=43715"},"modified":"2022-05-25T12:21:56","modified_gmt":"2022-05-25T06:51:56","slug":"bis-mark-on-gold","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/bis-mark-on-gold\/","title":{"rendered":"BIS Mark on Gold: A Complete overview"},"content":{"rendered":"\n<p class=\"has-drop-cap\">India is among\nthe few nations where the demand for gold related items is quite massive. India\nis the second largest nation in the world in terms of gold supply chain. Before\n2000, there was no viable framework to assure the quality of gold and its\nfineness. Considering this, the GOI, in association with BIS, came up with a\nmarking system known as BIS hallmarking. Today, BIS hallmarking acts as a\nfrontline standard to affirm the quality and fineness of gold-related\ncommodities, including coins and jewellery. BIS mark on Gold items serves as a\nsign of quality and pureness. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/bis-mark-on-gold\/#What_is_the_BIS_mark_on_Gold_aka_BIS_Hallmarking\" >What is the BIS mark on\nGold, aka BIS Hallmarking?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/bis-mark-on-gold\/#What_are_the_Signs_of_a_BIS_Hallmark\" >What are the Signs of a\nBIS Hallmark?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/bis-mark-on-gold\/#Grant_of_BIS_certificate_to_put_a_BIS_mark_on_Gold_items\" >Grant of BIS certificate to\nput a BIS mark on Gold items<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/bis-mark-on-gold\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_BIS_mark_on_Gold_aka_BIS_Hallmarking\"><\/span>What is the BIS mark on\nGold, aka BIS Hallmarking? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>BIS hallmark<\/strong><sup><a href=\"https:\/\/www.bis.gov.in\/index.php\/hallmarking-overview\/\"><strong>[1]<\/strong><\/a><\/sup> refers to a hallmarking system for jewellery sold in India, be it Gold or silver. It certifies the metal&#8217;s purity and ensures that the same affirms the underlying norms of BIS. <\/p>\n\n\n\n<p>BIS hallmarking\naims at curbing the availability of fake ornaments that are otherwise fraudulently\nsold as Gold ornaments. BIS hallmarking refers to a certificate granted by the\nBIS, an apex regulator that formulates and enacts the quality standards for\ndifferent products in India. It is noteworthy the government has mandated every\njeweller in the country to put BIS mark on gold items from 15th January 2021.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Signs_of_a_BIS_Hallmark\"><\/span>What are the Signs of a\nBIS Hallmark?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per the BIS,\nhallmarked gold products are stamped or inscribed with four components to\naffirm the Gold&#8217;s purity. These marks are as follows: <\/p>\n\n\n\n<ul><li><strong><em>The BIS logo<\/em><\/strong><\/li><li><strong><em>Purity mark relating to fineness and karat<\/em><\/strong><\/li><li><strong><em>The test and hallmarking centre&#8217;s number\/logo <\/em><\/strong><\/li><li><strong><em>The identification mark of the jeweller <\/em><\/strong><\/li><\/ul>\n\n\n\n<p><strong>Note:<\/strong>\nBefore 1st January 2017, Gold hallmarks were also utilized to incorporate the\nmarking year indicated by a code letter A. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">BIS standard Logo<\/h3>\n\n\n\n<p>&nbsp;It refers to a triangular-shaped mark which\nimplies that the purity of the given gold commodity is affirmed in one of the\ncertified BIS labs. This logo is standard on every hallmarked gold item or coin.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Purity Mark<\/h3>\n\n\n\n<p>This mark confirms\nthe threshold of gold purity in that item implied in the following two ways:<\/p>\n\n\n\n<ul><li>Fineness\nnumber<\/li><li>Karat\n(denoted as KT or K) and<\/li><\/ul>\n\n\n\n<p>As per the BIS\nfrom 1st Jan 2017, hallmarking is done of 3 levels of gold karats- 14k, 18k,\nand 22k. Before that, hallmarking was applicable to more standards such as 9k,\n17k, 21k, and 23k. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Fineness number<\/h3>\n\n\n\n<p>Fineness number\nis another viable method for quantifying the gold purity in PPT, i.e. Parts per\nthousand. Simply put, it is the % of pure Gold in the total gold alloy.\nTherefore, this implies a gold earring of purity 17 karats with a fineness of\n91 shall be marked as 22k916. Similarly, 14 and 18 k gold jewellery products\nshall be marked as 14K585 and 18K750, respectively.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Assaying and Hallmarking Centre\u2019s Mark<\/h3>\n\n\n\n<p>The third mark\nrefers to a logo of hallmarking centre or the thirty party examinations where\nGold is tested to affirm its purity. Only certified labs of BIS are permitted\nto examine the purity and affix this mark. <\/p>\n\n\n\n<p>This is done to\nkeep a consistent tab on the gold piece so that its tracking becomes easier in\ncase of any discrepancies later. One can visit the BIS portal to check whether\nthe given lab is certified or not. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Jeweller&#8217;s Identification\nMark<\/h3>\n\n\n\n<p>The manufacturer\nor jeweller of the gold commodity also puts its mark on it. Each BIS accredited\nmanufacturer or jeweller has a unique effect affixed to their jewellery or\nother related gold commodities. The BIS portal has the complete list of\ncertified jewellers working under their purview. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Grant_of_BIS_certificate_to_put_a_BIS_mark_on_Gold_items\"><\/span>Grant of BIS certificate to\nput a BIS mark on Gold items<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Any jeweller intending to secure a Certificate of Registration for trading hallmarked products shall apply for <a href=\"https:\/\/corpbiz.io\/bis-registration\"><strong>BIS Certificate<\/strong><\/a> via a dedicated online portal. During online filing, the applicant is required to upload\u00a0 the following documentations. <\/p>\n\n\n\n<ol><li>Proof of business<\/li><li>Proof of address of the business<\/li><li>Proof of identity relating to the signatory<\/li><li>Map reflecting the location of premises in question from the nearest landmark<\/li><li>Proof of annual business revenue<\/li><li>Logo(s) \/ Identification Marks(s)<\/li><li> CA Certificate<\/li><\/ol>\n\n\n\n<p>Upon application\nsubmission, the vetting procedure shall be initiated by the BIS designated\nofficial. The successful vetting process shall lead to the grant of\ncertification. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Gold is an\nexpensive metal. And just by barely looking at a gold jewellery or coin, it is\nhard to determine its exact purity and quality. A professional is required to\nfacilitate that level of assurance. Without the affirmation of its quality and\npurity, a buyer may end up paying more than the exact price of that gold\nproduct or purchasing a fake product. But, once consumers can pinpoint all\nsymbols of the BIS mark on the jewellery, they can be sure about the fineness\nand purity of the item. Moreover, selling or recycling gold items with BIS\nHallmark is easier. There is no requirement to test the hallmarked items via a\ncertified lab or obtain a jeweller&#8217;s certificate for them. Existence of BIS\nmark on gold items prevents end-users to look out for third-party inspection\nand purchase gold products more confidently. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>India is among the few nations where the demand for gold related items is quite massive. India is the second largest nation in the world in terms of gold supply chain. Before 2000, there was no viable framework to assure the quality of gold and its fineness. Considering this, the GOI, in association with BIS, [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":43718,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[243],"tags":[2374],"acf":{"service_id":"221"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":6848,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/43715"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=43715"}],"version-history":[{"count":7,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/43715\/revisions"}],"predecessor-version":[{"id":43723,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/43715\/revisions\/43723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/43718"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=43715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=43715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=43715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}