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Trade loss worth Rs. 80000 Crores due to 18 days closure of jewellery shops
Posted on: 21/Mar/2016 8:12:32 PM
The strike by the Jewellery shop owners protesting against the imposed Kalal Tax on jewelleries demanding to take it back came to an end.
Jewellery shop owners throughout India closed their shops in a protest against the 1 percent Kalal Tax imposed on gold jewellery from 2nd March.
Over 10 lakh jewellery shops remained closed throughout the country while around 35000 jewellery shops remained closed in Tamil Nadu state.
There was a procession of Jewellery shop owners in Delhi Ramlila Grounds n 17th March.
Subsequently, a discussion was held between the jewellery shop Owners Association representatives and the central government and an agreement was reached day-before-yesterday (Saturday, 19th March). They made an announcement that the strike is being withdrawn.
The President of Chennai Gold Diamond Jewellery shop owners
Association, Mr. Jayanthilala informed:
The central government has come forward to carry out suitable amendments by removing certain clauses in the Kalal Tax to facilitate for the better business for jewellery shop owners.
The central government has formed a 10-member council to review the Kalal Tax clause. 5 members are form the Kalal Tax department and the other 5 are from the jewellery shop owners association.
The central government has ordered this council to present their report within 2 months.
Following this agreement, the strike has been withdrawn.
So, the jewellery shops throughout the country including Tamil Nadu will be open from now.
A trade loss of Rs. 80000 Crores has been incurred due to the 18-days strike throughout the country. The trade loss in the state of Tamil Nadu is Rs. 6500 Crores.’
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