Gold Excise Duty Hike

In a relief to jewellers, the government has increased Small Scale Industry (SSI) exemption limit to Rs 10 crore from Rs 6 crore, waived off the levy on sale of traded goods and relaxed various procedural norms.

Mr Subramanian said this indirect tax collections reflect in part the effect of the additional measures taken by the central government, including an excise duty increase on diesel and petrol and gold, besides a hike in service tax rate from June 1.

In the Budget for 2014-15, Finance Minister Arun Jaitley had announced an increase in excise duty on cigarettes in the range of 11 per cent to 72 per cent.

The government on Tuesday decided to hike the excise duty on gold ore by 2 per cent to 5 per cent. The move follows its decision to hike import duty on gold to 6 per cent, the second such increase in a year.

“The Finance Minister has assured whatever best is possible will be done,” a member of the delegate that met Mr Mukherjee said after the meeting. Sources said the minister has promised good news but has highlighted the need to follow protocol which means that any changes to his proposals will have to be cleared by parliament.

Today is the 21st day of the strike and jewellers say it has resulted in a revenue loss of Rs 20,000 crore already. The stir yesterday spread to south India with traders in Tamil Nadu and Puducherry shutting shop. The jewellers have called for big rallies in Mumbai on April 7 and in Delhi on April 11.

Today is the 21st day of the strike and jewellers say it has resulted in a revenue loss of Rs 20,000 crore already. The stir yesterday spread to south India with traders in Tamil Nadu and Puducherry shutting shop. The jewellers have called for big rallies in Mumbai on April 7 and in Delhi on April 11.

The stir yesterday spread to south India with traders in Tamil Nadu and Puducherry shutting shop. The jewellers have called for big rallies in Mumbai on April 7 and in Delhi on April 11. Today, there were reports of some jewellers protesting on railway tracks in Akola, Maharashtra

Finance Minister Pranab Mukherjee will meet a delegation of jewelers today in New Delhi; jewelers across the country have been on strike for 21 days now to protest a hike in import duty on gold, and an excise duty hike on unbranded jewelry. The jewelers say the strike will continue until the duty hikes are rolled back.

The nationwide strike by jewelers entered its 20th day on Thursday to protest against a steep hike in import duty on gold, and an excise duty in unbranded jewrllery. In a country that is the largest buyer of bullion in the world, and where household gold consumption is worth about $45 billion, the extended strike is now weighing on business. Here a...

The strike by bullion traders and jewellers continued for day 17 to protest the proposed increase in import duty on gold and imposition of excise duty on unbranded jewellery.

Jewellers and bullion traders are protesting against the budget proposal imposing excise duty of one per cent on unbranded precious jewellery and doubling of customs duty on standard gold bars and coins to four per cent.

Amid the ongoing nationwide strike by bullion dealers, families in Rampur district of Uttar Pradesh are exchanging savings certificates instead of gold jewellery at weddings.

Inflationary worries are here to stay. First it was a fuel price hike because of excise levies and now the metal sector is passing on the burden of a hike in excise duty to customers.

In a relief to jewellers, the government has increased Small Scale Industry (SSI) exemption limit to Rs 10 crore from Rs 6 crore, waived off the levy on sale of traded goods and relaxed various procedural norms.

Mr Subramanian said this indirect tax collections reflect in part the effect of the additional measures taken by the central government, including an excise duty increase on diesel and petrol and gold, besides a hike in service tax rate from June 1.

In the Budget for 2014-15, Finance Minister Arun Jaitley had announced an increase in excise duty on cigarettes in the range of 11 per cent to 72 per cent.

The government on Tuesday decided to hike the excise duty on gold ore by 2 per cent to 5 per cent. The move follows its decision to hike import duty on gold to 6 per cent, the second such increase in a year.

“The Finance Minister has assured whatever best is possible will be done,” a member of the delegate that met Mr Mukherjee said after the meeting. Sources said the minister has promised good news but has highlighted the need to follow protocol which means that any changes to his proposals will have to be cleared by parliament.

Today is the 21st day of the strike and jewellers say it has resulted in a revenue loss of Rs 20,000 crore already. The stir yesterday spread to south India with traders in Tamil Nadu and Puducherry shutting shop. The jewellers have called for big rallies in Mumbai on April 7 and in Delhi on April 11.

Today is the 21st day of the strike and jewellers say it has resulted in a revenue loss of Rs 20,000 crore already. The stir yesterday spread to south India with traders in Tamil Nadu and Puducherry shutting shop. The jewellers have called for big rallies in Mumbai on April 7 and in Delhi on April 11.

The stir yesterday spread to south India with traders in Tamil Nadu and Puducherry shutting shop. The jewellers have called for big rallies in Mumbai on April 7 and in Delhi on April 11. Today, there were reports of some jewellers protesting on railway tracks in Akola, Maharashtra

Finance Minister Pranab Mukherjee will meet a delegation of jewelers today in New Delhi; jewelers across the country have been on strike for 21 days now to protest a hike in import duty on gold, and an excise duty hike on unbranded jewelry. The jewelers say the strike will continue until the duty hikes are rolled back.

The nationwide strike by jewelers entered its 20th day on Thursday to protest against a steep hike in import duty on gold, and an excise duty in unbranded jewrllery. In a country that is the largest buyer of bullion in the world, and where household gold consumption is worth about $45 billion, the extended strike is now weighing on business. Here a...

The strike by bullion traders and jewellers continued for day 17 to protest the proposed increase in import duty on gold and imposition of excise duty on unbranded jewellery.

Jewellers and bullion traders are protesting against the budget proposal imposing excise duty of one per cent on unbranded precious jewellery and doubling of customs duty on standard gold bars and coins to four per cent.

Amid the ongoing nationwide strike by bullion dealers, families in Rampur district of Uttar Pradesh are exchanging savings certificates instead of gold jewellery at weddings.

Inflationary worries are here to stay. First it was a fuel price hike because of excise levies and now the metal sector is passing on the burden of a hike in excise duty to customers.