Jewellers' body to organise protest on March 17

Even as the strike by jewellers against 1 per cent excise duty entered the 13th day, an industry lobby has threatened to organise a nation-wide protest on Thursday.
"With no progress on the decision to roll back the imposition of 1 per cent excise duty and indefinite strike for the past 13 days, we are going to organise a protest on March 17, in which jewellers and bullion traders from pan-India will participate," All India Bullion Jewellers & Swarnkar Action Committee Executive Member Praveen Goel told reporters here.
Jewellers have been on strike since March 2 protesting against the proposed excise duty on non-silver jewellery items.

Goel also said that government should withdraw the proposal to impose excise duty till there is proper discussion on the subject. "Our protest would continue till the government take cognisance of our views and acts favourably."
Finance Minister Arun Jaitley in the Budget for 2016-17 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.
Meanwhile, the Finance Ministry has clarified that only jewellers with turnover of more than Rs 12 crore will be liable to pay 1 per cent excise duty on non-silver jewellery items.

With traders' associations organising dharnas in various parts, the strike is now spreading to small towns as well.