Jewellery trade protests tax

BENGALURU:  Jewel shops owners and retailers from Karnataka on Thursday joined a nationwide protest against the one per cent excise duty to be levied by the Centre. The Karnataka Jewellers’Association protested by taking out a bike rally at Freedom Park.

“The jewellery sales have already been failing due to higher prices. We are urging the government to roll back excise duty and till then the protest will continue,” said Purushothama K, a member of the association.

In the Budget, finance minister Arun Jaitley had said: “Only jewellers with turnover of more than Rs 12 crore will be liable topay 1percent excise duty on non-silver jewellery items.”

Veda Gowda

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