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Excise on jewellery to stay, but finance ministry ready to ease rules

Jewellers' association digs in, says strike to continue till excise is completely withdrawn

BS Reporter  |  Mumbai 

Members of jewellers' association protesting against the government proposal to impose 1% excise duty in jewellery sector in Mumbai (pic: Suryakant Niiwate)
Members of jewellers’ association protesting against the government proposal to impose 1% excise duty in jewellery sector in Mumbai (pic: Suryakant Niiwate)

The has ruled out rolling back on jewellery, but has shown preparedness to solve real issues of industry regarding implementation of The ministry has told the president of India Bullion and Association (IBJA) that we are ready to sit and discuss the solution, where jewelers can be benefitted and no harassment is done to them, an official said.

The ministry added that it was ready to amend the rules where jewelers were not harmed. The will soon be calling a meeting to discuss the issue further. An of 1% was proposed in the Union Budget, opposing which all Indian jewelers were on from March 1. The IBJA, however, has stated that the indefinite will continue till the excise was completely withdrawn.

First Published: Mon, March 14 2016. 11:48 IST
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