Today in this post we will learn how to do gold business. How to get a license for gold business. How to get a license to sell Hallmark gold. And how to check the purity of gold and what are the benefits of keeping gold.
Guys, everyone likes to keep and wear gold. And when it comes to women, gold is very important for them. Women cannot live without gold jewelery. They love gold very much. And often you have seen women wearing gold chains, rings, or necklaces. It is often considered auspicious to use gold jewelery as an omen in Indian marriages.
You may have noticed that gold is also used with a lot of jewelery. The biggest example of which is diamond. Diamond stone is often placed in a gold ring to make a diamond ring. But many people also do gold business like when the price of gold is low then they buy gold bricks and when the price of gold goes up they sell gold bricks.
If you have to invest in gold then you should always buy gold coins or gold bricks. If you keep buying gold jewelery then when do you go to sell it? If you sell bricks then you get only market price. If you trade gold, you will benefit a lot from it. Often the price of gold goes up and down and sometimes gold becomes so expensive that if you sell gold at that time, you get 2 to 4 times. Can make a profit of up to Rs.
How to do gold business:-
If you want to do gold business, you must first get information about gold and you must also be able to identify gold. So that no one can cheat you.
If you want to do business in gold. Or if you want to open a jewelery shop then you have to get the license of the shop for gold business just like any other business. For this you have to get permission from the local government office. Then you have to get the shop license. And another very important thing is the GST license. Nowadays it is very important for you to take GST lecense to do any business. In this business you also need business pan card. So that the income tax department can accurately identify your business and keep accurate information about your money transactions.
If you want to start a gold business, you should also know where to buy gold. Gold is mainly mined in India or you can buy gold from the international market. The gold you buy is pure gold i.e. 24 carret gold. This gold is very soft. Which you can twist with a little addition. But when you sell that gold as jewelery in your jewelery shop, it is not pure gold. It contains 2 carrect brass or copper so that gold jewelery can be made hard and not broken easily.
How and where to get a license to sell Hallmark jewelery.:-
If you want to buy and sell jewelery, then you have to get a hallmark license for it which is not so easy to get. In India, the hallmark license is only the OS of some jewelery sellers. If you want to sell hallmark gold, you need to get a particular license from BIS. You cannot sell hallark jewelery without a BIS license. When you get a license from BIS, you have to sign an agreement.
Once you get the license, you have to follow the terms and conditions of BIS. If you do not follow the terms of the BIS, your license may be revoked and you may be prosecuted by the BIS, which may result in imprisonment or a fine.
How to get a corporate license for a jewelery store.:-
If you want to run multiple jewelery shops, you have to get a separate license to sell hallmark jewelery at each shop. You cannot sell jewelery with hallmark in all the shops on the same BIS licensee. If you are asked to sell jewelery in more than one shop, you can get a corporate license to cover all your outlets. For this you have to persuade some Naimo and Sarato. In order to get a corporate license you have to manage to get some discount in fees.
Which documents you have to submit along with the form:-
So let us know about the necessary documnets which you have to attach and submit with the form
1.Self certified copy
- Copy of registration with state government
- Company registration certificate
- If your application has a proprietary form then you also need a certificate of chartered accountant.
- Copy of sale tax and vat registration
- You need a copy of the Income tax assessment order.
- A copy of the insurance policy must also be submitted
- Copy of your property tax documents
- A copy of the rent agreement must also be submitted
2. Documents for identity proof
- Aadhaar card copy
- Driving license min copy
- Copy of PAn card
- Copy of voter identity card.
- Passport copy
- Credit card photo.
- CGHS / ECHS photo card.
How to correctly identify Gold:-
If you want to do gold business then you should have the tools to check it so that you can identify the right gold.
- You can buy online gold testing kit which has a price in the online market of around 30 $. By the way, the test kit is less reliable than other devices. You also have to have a small scale to weigh the gold.
- If you want to buy a gold testing kit, you should talk to your local gold seller once and they will know about it. The gold testing kit helps you identify the right gold.
- You can also buy digital spectrum gold testing machine for gold testing. This machine allows you to check the accuracy as well as quickly. This is more trusting advance machine than gold testing kit.