Jewellers to strike in protest over excise duty on Gold

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Jewellers will go on indefinite strike from March 1 in protest over the imposement of 1% excise duty on gold articles, the Shroff’s Association Shahpur declared in a press note.

The excise duty was imposed by Congress govt in 2012-13 and then for more than 20 days all the shops were closed. Then BJP MLAs Mps had supported the Bandh.

The main issue for the said tax is under the said act each jweller will have to register take a license, maintain registers and has also the impact of inspector raj.

It will be a headache for the small jewelers, which make up 80 percent of the industry, and they will have another department to report to from a compliance point of view. The planned excise tax will make purchases more expensive for buyers and lead to irregular business practices.

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