Jewellers, bullion traders, artisans have been on strike since March 2 to protest against 1% excise duty on non-silver jewellery
Apart from the revenue loss due to the ongoing strike, analysts see a bigger impact on their profits given the high margins in jewellery business
Govt constituted a panel under former Chief Economic Advisor Ashok Lahri to look into the demands of jewellers
They have also been protesting against mandatory quoting of PAN by customers for transaction of Rs 2 lakh and above
Big jewellers were of the opinion to support central leadership and apex associations, however, smaller associations don't want excise
Coincides with withdrawal of their strike on Jaitley assurances of no harassment or red tape
A three-member committee has been set up to look into issues of jewellers
According to industry estimates, the jewellers in Tamil Nadu have already lost business worth Rs 5,000 crore owing to the strike
Online payment of tax and disclosure of stocks would suffice, jewellers may call off strike after March 17 rally in Delhi
Stepping up pressure, jewellery traders have decided to extend their strike till March 7