Jewellers end 18-day strike, government assures no harassment by tax officials

21 Mar 2016

1

Jewellers finally ended a nationwide strike after the government assured them they will not be harassed by the excise department in collecting a new 1 per cent excise duty proposed in the union budget.

The jewellers' body went on a strike after the government reintroduced the 1-percent excise duty on gold jewellery after four years.

Talking to media, Mohit Kamboj, president of India Bullion and Jewellers Association (IBJA) said, "We have called off strike. From tomorrow (Monday) jewellers will open shops."

The government has assured the industry that the jewellers will face no harassment from the excise department, but the excise duty will stay.

At an eight-hour with the jewllers' body, IBJA, on Saturday, the government said it would set up a high-level task force headed by former chief economic adviser Ashok Lahiri to sort out procedural issues. The task force will have three industry representatives, a legal expert and Central Board of Excise and Customs (CBEC) officials as its members.

Latest articles

European truckmakers face “eat our lunch” moment as low-cost Chinese electric rigs arrive

European truckmakers face “eat our lunch” moment as low-cost Chinese electric rigs arrive

Anthropic sues to block Pentagon blacklist, warns of multibillion-dollar revenue collapse

Anthropic sues to block Pentagon blacklist, warns of multibillion-dollar revenue collapse

Ex-Meta AI chief Yann LeCun’s AMI raises $1.03 billion for alternative AI approach

Ex-Meta AI chief Yann LeCun’s AMI raises $1.03 billion for alternative AI approach

Global crude price rise unlikely to significantly impact India’s inflation, says finance minister

Global crude price rise unlikely to significantly impact India’s inflation, says finance minister

Hical Technologies wins long-term contract to supply control systems for Rafale fighter aircraft

Hical Technologies wins long-term contract to supply control systems for Rafale fighter aircraft

Nvidia-backed Nscale valued at $14.6 billion in fresh $2 billion funding round

Nvidia-backed Nscale valued at $14.6 billion in fresh $2 billion funding round

Nxtra plans $1 billion fundraise; Alpha Wave set to join Airtel and Carlyle

Nxtra plans $1 billion fundraise; Alpha Wave set to join Airtel and Carlyle

Energy crisis fears grow as U.S. urges India to buy Russian oil; G7 weighs reserve release

Energy crisis fears grow as U.S. urges India to buy Russian oil; G7 weighs reserve release

Tesla billionaire Leo KoGuan doubles Nvidia stake amid market volatility

Tesla billionaire Leo KoGuan doubles Nvidia stake amid market volatility