Gems and jewellery exporters have asked the government to “explicitly clarify” whether jewellers with transactions only in exports are excluded from the purview of the mandatory gold hallmarking order to be implemented from June 1 2021.
In a representation to Minister of Consumer Affairs and Food & Public Distribution, Piyush Goyal, the Gems & Jewellery Export Promotion Council pointed out that as Indian hallmarked articles do not have acceptance outside India, any legal interpretation that requires an exporter to comply with the hallmarking provisions wholly or partially, will increase the transaction costs in the export stream, making gem and jewellery exports unviable.
Purchases made by foreign buyers at domestic exhibitions are tantamount to export sales and should therefore be outside the purview of the hallmarking order, the GJEPC said.
Clarificatory amendment
The storing of fully manufactured gold articles should not require compliance with the hallmarking provisions, except prior to domestic sale, it added. The GJEPC requested a clarificatory amendment on hallmarking exemption to manufacturers/wholesalers supplying articles to exporters.