Unbranded Jewellery

• Jewellers to decide this evening whether to end 21-day strike

  “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.

• Jewellers face survival test as taxes mount

  New Delhi doubled import duty on gold to 4 per cent of value in its Union Budget and slapped a 0.3 percent excise on unbranded jewellery, moves that are game-changers for the $200 billion a year jewellery industry.

• Parliament approves 1st part of Budget; FM to relook at tax on unbranded jewellery

  Replying to debate on Budget in the Rajya Sabha, Finance Minister Pranab Mukherjee said that he would make appropriate announcements with regard to the tax proposal on unbranded jewellery in the second half of the session.

• Bullion market remains closed as strike enters 12th day

  Most jewellery houses remained closed ever since the Finance Minister Pranab Mukherjee in his budget proposals on March 16 announced 1 per cent levy on unbranded jewellery and doubling of import duty on gold.

• Pranab agrees to reconsider duty on unbranded jewellery

  The finance minister alos promised to reconsider the proposal to make it mandatory the use of PAN card for purchase of jewellery of over Rs 2 lakh.

• Jewellers' strike against tax hike enters tenth day

  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.

• Bullion and jewellery markets strike enters eighth day

  Bullion and jewellery markets remained closed for eight straight to protest imposition of excise duty on unbranded jewellery and doubling of import duty on gold.

• Jewellers continue protests in major cities

  Jewellers across major cities came out in large numbers today to continue their protest against central excise on unbranded jewellery and the increase in customs duty on gold imports. Major protests were held on Mumbai, Lucknow, Kanpur and Rajkot.

• Titan shares soar on uniform excise proposal for jewellery

  The current excise duty of 1% on branded jewellery will be extended to unbranded jewellery as well.