FM Jaitley seeks to assuage concerns of striking jewellers

2016-03-15 0

New Delhi, Mar 15 (ANI): Finance Minister Arun Jaitley sought to ease concerns of jewellers, who have been on an indefinite strike for almost two weeks against the reintroduction of a sales tax on gold after four years, saying it was only applicable for principal traders. Jewellers and bullion traders are on strike since March 2 after Jaitley announced an excise duty of one percent on gold and diamond jewellery while presenting the annual budget last month. They have also planned to stage a massive protest against the government proposal at Delhi's Ramlila ground on March 17. Jewellery sales in India have fallen in the last two months due to higher gold prices. Consumers have delayed purchases hoping for a cut in the import duty. Meanwhile, Jaitley dismissed the Opposition's criticism over a limited period compliance window being offered to domestic tax evaders to come clean by reiterating that it was not an amnesty scheme.

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