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Jewellers strike: Jewellers are divided on calling off their strike against imposition of excise duty in Union Budget 2016 by FM Arun Jaitley with more than half of the industry continuing with their 20-day old stir demanding rollback of the budget proposal. In this year's Budget, Jaitley had 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. Check out the reactions by the industry honchos: (Reuters)
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Jewellers strike: Late Saturday, major associations, including All India Gems and Jewellery Trade Federation (GJF), All India Bullion and Jewellers Association (IBJA) and Gems Jewellery Export Promotion Council (GJEPC) called off strike after government's assurance that there would be no 'Inspector Raj'. GJF Chairman Sreedhar G V had said that the decision to call off the strike was taken after the government assured jewellers that there will be no harassment by excise officials and no 'inspector raj'. (Express Photo)
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Jewellers strike: However, local associations, particularly those in Delhi-NCR, Rajasthan, Uttar Pradesh, Chhattisgarh and Madhya Pradesh, are against calling off the strike and want rollback of the 1 per cent excise duty on non-silver jewellery items. Some jewellers are seeking written assurance from the government. Meanwhile, most of jewellers have reopened their showrooms in Tamil Nadu and Pudduchery. (PTI)
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Jewellers strike: Opposing the withdrawal of strike, All India Sarafa Association Vice-President Surinder Kumar Jain said the strike in the National Capital will go on for an indefinite period until the government rolls back the excise duty. Jewellers, bullion traders and artisans are organising 'dharna' at Chandni Chowk to intensify the agitation, he said. (PTI)
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Jewellers strike: When contacted, GJF past president and director Bachhraj Bamalwa said: "Situation is volatile across the country. About 40 per cent of the shops are open but rest are closed." Although major associations unanimously decided to call off their strike on Saturday, the member associations and local bodies are demanding complete roll-back, he said, adding that the shops are being forcefully closed. Besides GJF, IBJA and GJEPC, Bamalwa said the associations from Uttar Pradesh, West Bengal, Rajasthan, Karnataka, Tamil Nadu and Maharashtra were present in the meeting. (PTI)
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Jewellers strike: About 40 showrooms of PC Jewellers are open out of total 60 retail outlets. GJF director Raman P Solanki said, "Most of the associations are waiting for some sort of written assurance from the government in the form of circular or notification to completely call off the strike." India Bullion and Jewellers Association (IBJA) president Mohit Kamboj said there is some confusion among jewellers in absence of a written assurance by the government. "We are expecting some kind of government notification or circular anytime, which will assure the industry and the jewellers will open their shops," he added. (PTI)
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Jewellers strike: Several associations in different parts of the country have been on strike, demanding complete roll-back of the proposed excise duty. Meanwhile, the government has constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demands of jewellers. The panel, which has been asked to submit its report in 60 days, will look into issues related to compliance procedure for the excise duty, including records to be maintained, forms to be filled, operating procedures and other relevant issues. (PTI)
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