Nation Current Affairs 09 Apr 2016 Hyderabad: Jewellers ...

Hyderabad: Jewellers are striking not for tax alone

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Apr 9, 2016, 1:57 am IST
Updated Apr 9, 2016, 1:57 am IST
The mandatory PAN number for any sale above Rs 2 lakh will curb sales with black money.
 The mandatory PAN number for any sale above Rs 2 lakh will curb sales with black money.

Hyderabad: Although central excise officials have clarified doubts regarding the proposed one per cent excise duty on jewellery (which can be passed on to customers), why are jewellers on strike?

Do they want a rollback of new taxes along with all conditions like the decision on EPF? Or are they against anyone monitoring them and asking for accountability?

As per social media, the main reason behind the jewelers’ strike is “Do Number Dhanda” (illegal business). A message states: “Jewelers import gold through illegal channels and the new rule asks for accountability for all jewels manufactured in the country.

The jewels made with illegally imported gold also need accountability. The mandatory PAN number for any sale above Rs 2 lakh will curb sales with black money. Practices on wastage will also be curbed if the jewels come under accountability. As the government is trying to curb cheating, the jewelers are demanding that the government rollback the decision to allow them to cheat customers as usual.”

Jewellers’ associations have rubbished the message saying the levy will hurt their business. But chief commissioner for central excise Mr A.K. Gupta said the tax was on manufacturing and it would be applied to any kind of jewellery manufacturing — whether it was made from fresh or old gold. The Central Excise department had also given a clarification about the tax and requested jewelers to stop the strike. “Doubts have been expressed by the industry on this levy.

There will be easy compliance with provision for online application for registration, payment of duty and filing of returns, with zero interface of officers” the department said.

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Location: India, Telangana, Hyderabad




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