Protesting jewellers meet Sonia, demand duty roll back

Various jewellers associations, including Bullion Traders Association, Market Sarafa Association, and diamond traders have been on strike since 17th March.

New Delhi: Agitating jewellers and bullion traders today called on Congress President Sonia Gandhi to press for their demand for removal of excise duty on unbranded jewellery, reports PTI.

"We today met Sonia Gandhi and requested her to tell the government to roll back excise duty on unbranded jewellery, reduce customs duty and lower TDS on sale of jewellery," All India Swarankar Sangh President Madhukar Chachad told reporters after the meeting.

Ms Gandhi, he said, "has assured us that she will forward our demands to Finance Minister Pranab Mukherjee for further action".

Ahead of the meeting of jewellers with Ms Gandhi, the Congress had asked the government to look into the demands of jewellers, who have been agitating for more than a fortnight.

"Congress has asked the government to consider the demand of jewellers sympathetically," AICC General Secretary and media department chief Janardhan Dwivedi said.

Bullion traders and jewellers are protesting since the presentation of the Budget which had imposed excise duty on unbranded jewellery, raised customs duty on gold and proposed TDS requirement on sale of jewellery.

The representatives of the jewellery associations have also met Mr Mukherjee yesterday to press for their demand for removal of duties on gold and unbranded jewellery. They met the Minister again on Friday.

Mr Mukherjee, while replying to a debate on Budget in Lok Sabha last month, had assured the jewellers that he would consider their demands but ruled out reduction in customs duty on gold, which was doubled to 4%.

Various jewellers associations, including Bullion Traders Association, Market Sarafa Association, and diamond traders have been on strike since 17th March.

Mr Mukherjee in his Budget for 2012-13 had imposed 1% excise duty on all unbranded jewellery and doubled the import duty to 4% on gold. He also announced that quoting of PAN card would be mandatory for purchase of jewellery worth more than Rs2 lakh.

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PFC Consulting Ltd has transferred its Nagapattinam-Madhugiri Transmission Company Ltd to Power Grid

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SC rejects Essar Oil’s review petition on deferred sales tax

Essar Oil has already recognised the liability in its quarterly accounts for the quarter ended 31 December 2011

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Essar Oil has already recognised this liability in its quarterly accounts for the quarter ended 31 December 2011. The company is also in discussion with the Gujarat government for finalising the terms of repayment of sales tax liabilities.
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