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Except Tamil Nadu, Jewellery shops in all other states remain closed
Posted on: 04/Apr/2016 11:35:32 AM
Except for the state of Tamil Nadu, the jewellery shops in all other states remained closed as a protest against the imposition of 1 percent Kalal Tax on gold jewellery in the recent budget.
Central Finance Minister Mr. Arun Jaitely had announced in the general budget that 1 percent Kalal Tax will be imposed on gold jewellery. Protesting against this, and demanding withdrawal of this tax, all jewellery shop owners, traders, and goldsmiths have closed their shops from 2nd March. Trading has been affected in a huge way because of this closure.
The central government promised that this new tax will not be applicable to the small jewellery shops and no checking by excise-inspectors will be carried out.
A committee formed by the central government in this regard has been asked to review and finalise all the data required to be maintained and applications to be submitted within 60 days.
Meanwhile, except the state of Tamil Nadu, the jewellery shops in all other states in the country remained closed demanding the withdrawal of the newly imposed Kalal Tax. In Tamil Nadu, the jewellery shops were open and business was done.
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