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The strike by a large number of jewellers and bullion traders continued for the 21st day today to protest against FM Arun Jaitley's Union Budget 2016 proposal to impose 1 per cent excise duty on non-silver jewellery, despite the government constituting a panel to look into their demand. 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. (PTI)
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All India Sarafa Association Vice-President Surinder Kumar Jain said the ongoing strike will go on indefinitely till the government rolls back the proposal. However, most of the jewellers who had reopened their showrooms in confusion yesterday, kept shutters down today at Mumbai's Zaveri Bazar and several other places, demanding rollback of the proposal. Bullion markets in Chennai, however, remained open for regular trading. "We will stick to our demand of rolling back of proposed excise duty completely", Jain said. (PTI)
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Jewellers strike: A large number of traders across the country continued their strike for the 24th day today in protest against the proposed application of 1 per cent excise duty announced by FM Arun Jaitley in Budget 2016 on non-silver jewellery, despite the Narendra Modi government constituting a panel to look into their demand. (PTI)
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Jewellers across the country have also been protesting against mandatory quoting of PAN by customers for transaction of Rs 2 lakh and above. The government on Monday constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demand of jewellers who are protesting against imposition of 1 per cent excise duty on non-silver jewellery items. 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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Jewellers strike: Arvind Kejriwal told the representatives that he would also galvanise support for their cause from other chief ministers, by writing to them including those of BJP-ruled states to back the jewellers' demand., they said. They further said the date and time of the rally is yet to be decided. (PTI)
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Late on 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) had called off their strike after the government's assurance that there would be no 'Inspector Raj'. (PTI)
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