Business worth Rs 20,000 cr hit due to strike, say jewellers
"The Union Government has lost a revenue of Rs 700 crore in the last 20 days due to the strike," claimed Mr Bachhraj Bamalwa, Chairman, All India Gems and Jewellery Trade Federation (GJF).
"The loss includes four per cent customs duty, one per cent VAT and other additional levies," he said.The GJF will lead a team of 10-15 members from different associations to meet the Union Finance Minister, Mr Pranab Mukherjee, on Friday to find a solution.
The Gem and Jewellery Export Promotion Council will stop exports if an amicable solution is not reached on Friday, said Mr Bamalwa.Depending on the outcome of the meeting with Mr Mukherjee, the GJF will hold a rally on April 7 in Mumbai and at Ram Lila Maidan in New Delhi on April 11.
The industry is protesting against the levy of 0.30 per cent excise duty, doubling of import duty on gold to four per cent and collection of tax at source on sale above Rs 2 lakh.
Watch the footage of the Indian Union Budget 2013-14 presented by Finance Minister P Chidambaram on February 28.
Date 28-02-13, Duration 1:45:24, Views 142
Reacting over Narendra Modi's sharply worded letter to Manmohan Singh in which he termed the Communal Violence Bill as ill-conceived, poorly drafted and a recipe for disaster, JD(U) leader KC Tyagi said that in the name of this bill Modi is playing politics.
Date 12 hrs ago, Duration 1:03, Views 0