For Quick Alerts
For Daily Alerts

Jewellers Dig In Their Heels, Strike Enters 10th Day

By Super

New Delhi, Mar 11 (PTI) Jewellers and bullion traders across the country, including Delhi and Mumbai, went on with their protest for the 10th straight day today demanding rollback of the proposed excise duty on non-silver jewellery items.

Check gold rates in India

Jewellers Dig In Their Heels, Strike Enters 10th Day

All India Sarafa Association Vice-President Surinder Kumar Jain said most jewellery shops and establishments have been closed since March 2 after Finance Minister Arun Jaitley in his Budget speech on February 29 proposed 1 per cent excise duty on jewellery.

"The budgetary proposal imposing... excise duty on non-silver jewellery would harm the trade and affect the livelihood of all artisans and manufacturers," Jain said.

Jaitley has proposed 1 per cent excise duty on jewellery without input credit or 12.5 per cent with input tax credit on jewellery excluding silver other than studded with diamonds and some other precious stones.

Meanwhile, the finance ministry has clarified that jewellers only with turnover of more than Rs 12 crore will be liable to pay 1 per cent excise duty on non-silver jewellery items.

In 1981 and 2012 too, the Centre had introduced excise duty in the gems and jewellery sector, only to roll back the plan later.


Read more about: gold jewellers
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more