Jewellers strike enters 11th day over excise duty

The strike by jewellers and bullion traders continued for a 11th straight day Saturday demanding withdrawal of the proposed excise duty on non-silver jewellery items.

PTI| Last Updated: Mar 12, 2016, 17:53 PM IST
Jewellers strike enters 11th day over excise duty

New Delhi: The strike by jewellers and bullion traders continued for a 11th straight day Saturday demanding withdrawal of the proposed excise duty on non-silver jewellery items.

Most jewellery houses in the country have remained closed since March 2 after Finance Minister Arun Jaitley in his Budget speech on February 29, proposed 1 percent excise duty on non-silver jewellery.

All India Sarafa Association Vice-President Surinder Kumar Jain said the strike will go on for an indefinite period till the government roll back the hike.

Finance Ministry has clarified that the jewellers only with turnover of more than Rs 12 crore will be liable to pay 1 per cent excise duty.

Meanwhile, Congress Vice-President Rahul Gandhi yesterday met representatives of jewellers associations from across the country that have been demanding withdrawal of excise duty on jewellery, proposed in Budget 2016-17.