Jewellers to go on 3-day pan-India stir from today

Mumbai: Jewellers across the country have decided to go on a three-day strike from Wednesday to protest against the proposed re-imposition of one per cent excise duty and mandatory PAN cards for any transactions of Rs 2 lakh and above, an industry grouping said.

“We had a meeting with our members as well as with other associations under our network. We have collectively decided to go on three-day strike from tomorrow.

More than 300 associations, including manufacturers, retainers, artisans among others across the country will participate in the stir,” All India Gems and Jewellery Trade Federation (GJF) chairman Sreedhar G.V. said here on Tuesday.

Meanwhile, all jewellers associations and retailers in Kerala and Rajkot (Gujarat) went on strike from Tuesday itself.

“We were already facing challenges and business have gone down by 25-30 per cent after the government’s decision in January to make PAN cards mandatory for any transactions of Rs 2 lakh and above.

Instead of increase the slab to Rs 10 lakh from the current Rs 2 lakh, the government has created more difficulties by the proposal to re-introduce one per cent excise duty,” Mr Sreedhar rued.

He said, earlier, in 2005 and 2012, the government had introduced one per cent excise duty in gems and jewellery sector but had to withdraw it as it was not practical with the industry comprising mostly under-educated but highly skilled people who are not equipped to handle the paper work required in it.