Jewellers back on strike, shops shut for 3 days on excise duty

By: |
New Delhi | April 25, 2016 5:22 PM

Striking associations in different parts of the country have collectively decided to go for a complete closure of bullion markets for three days in major as well as small towns.

Jewellers, Jewellers strike, excise duty, All India Sarafa Association, All India Gems & Jewellery Trade FederationJewellers had temporarily called off their 42-day strike on April 13 for 12 days after the government’s assurance that there will be no harassment by excise officials. (Reuters photo)

Jewellers and bullion traders in several parts of the country, including Delhi, on Monday resumed their strike, demanding rollback of the one per cent excise duty on non-silver jewellery.

Most of the shops and jewellery showrooms are closed in the national capital and other major cities, Vice-President of the All India Sarafa Association, Surinder Kumar Jain told PTI.

Striking associations in different parts of the country have collectively decided to go for a complete closure of bullion markets for three days in major as well as small towns, Jain said.

Jewellers and artisans in the industry staged a dharna at Jantar Mantar in New Delhi extending support to the strike call given by different associations in the country.

Jewellery shops in several parts of Rajasthan including Jaipur, Jodhpur and Kota and nearly 3,000 jewellery establishments in Kanpur, Uttar Pradesh are also closed.

Major associations such as All India Gems & Jewellery Trade Federation (GJF) and India Bullion & Jewellers Associations, however, are not supporting the strike.

“We are already in negotiations with the government and there is a positive outcome. The government has already issued three circulars and will soon come out with a notification over simplification of implementation of excise duty on non-silver jewellery,” Ashok Minawala, Director (GJF) said.

Kanpur Sarafa Association has threatened to go on indefinite strike again if their demands are not fulfilled.

“If our demands not fulfilled, we will be forced to go for an indefinite strike,” said Mohan Aggarwal of the association.

Jewellers had temporarily called off their 42-day strike on April 13 for 12 days after the government’s assurance that there will be no harassment by excise officials.

The Centre has constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demands of the jewellers.

The panel will look into issues related to compliance procedure for the excise duty, including records to be maintained, forms be filled, operating procedures and other relevant issues.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Draft agreement on fisheries subsidies submitted to ministers ahead of their meeting: WTO
2Tremendous potential to grow bilateral trade with Canada: Goyal
3BRICS nations need to strengthen coop to support economic recovery: CEA