No rollback of new levy on jewellery, says Jaitley
NEW DELHI: The government will not roll back 1% excise duty on gold jewellery, finance minister Arun Jaitley has said of the decision that prompted jewellers to go on strike for more than a month.
Rejecting opposition parties’ demands, the minister said on Thursday the levy, proposed in the budget, was only applicable on jewellers with an annual turnover of more than ` 12 crore and not on small traders and artisans. “Tax will have to be paid… but we will ensure that there is no harassment of jewellers,” Jaitley said replying to a discussion on the finance bill that was passed in the Lok Sabha. Parties including the Congress, AAP and Trinamool Congress had opposed the move. CONTINUED ON P10