Gold traders, jewellers continue their strike for the 28th day
A large number of gold traders and jewellers continued their strike for the 28th day today in protest against the proposed one per cent excise duty on non-silver jewellery.
March 29, 2016 19:20 IST
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A large number of gold traders and jewellers continued their strike for the 28th day today in protest against the proposed one per cent excise duty on non-silver jewellery.
A protester holds a placard which reads excise roll back. (Source: Express Photo by Tashi Tobgyal)
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Most jewellery shops and establishments in the country are shut since March 2 after Finance Minister Arun Jaitley announced one per cent excise duty on non-silver jewellery.
BJP delegation led by Mukhtar Abbas Naqvi leaves the Election commission after meeting the CEC on issues relating to the West Bengal Polls, in the capital New Delhi on Tuesday (March 29). (Source: Express Photo by Tashi Tobgyal)
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Customers would face difficulties during the fast approaching wedding season in the absence of ready stocks as the strike continues, Surinder Kumar Jain, Vice-President, All India Sarafa Association said. (Source: Express Photo by Tashi Tobgyal)
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Jewellers association protest against excise duty outside the BJP National HQ in New Delhi. (Source: Express Photo by Tashi Tobgyal)
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Artisans related to the trade are also on strike and almost 100 per cent of jewellery items is hand crafted by them, Surinder Kumar Jain said.
Protesters try to run over the barricades outside the BJP National HQ in New Delhi. (Source: Express Photo by Tashi Tobgyal)
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Jewellery sales is likely to fall by 40-50 tonnes in the January-March period due to the ongoing strike, according to ICRA.
Protesters run over the barricades as police try to control the situation. (Source: Express Photo by Tashi Tobgyal)
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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.
A couple of protesters fall on the ground while others try to help them. (Source: Express Photo by Tashi Tobgyal)
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The government in the Budget for 2016-17 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.
A police official detains a protester outside the BJP National HQ in New Delhi. (Source: Express Photo by Tashi Tobgyal)
