Jewellers’ excise duty waived

The jewellers across the country heaved a sigh of relief after the union finance minister waived off the excise duty imposed on the jewellers in his recent budget speech.

Written by Express News Service | Ludhiana | Published: May 8, 2012 3:19:37 am

Ludhiana: The jewellers across the country heaved a sigh of relief after the union finance minister waived off the excise duty imposed on the jewellers in his recent budget speech. The jewellers following the announcement had gone on 21 days strike and later the FM had promised him that it will be waived off in the budget session. President of All India Jewellers association Anand Sikri thanked the FM for fulfilling his promise and stated that it will benefit more than 2 lakhs of workers associated in this business.

The finance minister had imposed 1 per cent excise duty on gold and consumer tax as well on the purchase of jewellery worth Rs 2 lakhs and above. Both have been waived off now. Manoj Dhanda,another leader stated that they thank the UPA Government for this gesture.

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