BIS hikes gold hallmarking fee to ₹75 ahead of festive buying season

The Bureau of Indian Standards (BIS) has raised the hallmarking fee for gold to ₹75 per article from the existing ₹45, effective immediately. The increase comes at a time when jewellers are gearing up for the festive season, traditionally the busiest period for gold purchases in India.

The All India Gem and Jewellery Domestic Council (GJC) has strongly opposed the fee hike, warning that it will increase the cost of jewellery for consumers and potentially dampen demand during the crucial season. The industry body has called on the government and BIS to reconsider the decision immediately.

The GJC has requested that the existing hallmarking fee be retained pending comprehensive stakeholder consultation. The council argues that any such decision affecting the jewellery sector should be taken only after detailed discussions with industry representatives to understand the broader implications.

Hallmarking fees are charged by BIS-accredited assaying and hallmarking centres to verify and certify the purity of gold jewellery. The increased fee is likely to translate into higher costs for consumers, who already face pressures from gold prices and making charges.

The timing of the fee increase has drawn particular ire from the industry, as jewellers depend heavily on festive season sales to drive their annual revenues. The council has indicated it may escalate the matter to higher government authorities if the decision is not reviewed promptly.