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Indian Jewelers Set Up National Panel to Lobby Scrapping of Excise Levy

Apr 11, 2016 9:10 AM   By Rapaport News
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RAPAPORT... More than 20 jewelry representatives from major industry associations in India have formed an action group to put pressure on the government to abolish a new excise duty that has had trade members striking for the past six weeks.

The All India Jewellers Excise Action Committee’s sole aim is to push for the scrapping of the 1-percent tax, G. V. Sreedhar, chairman of the All India Gems & Jewellery Trade Federation (GJF), said in a note to its members.

The panel – headed by Fatechand Ranka of Ranka Jewellers – was formed at a meeting of jewelry association heads on April 5 in New Delhi. The GJF clarified its members on the excise committee are working toward the industry’s cause in a personal capacity and not as representatives of the trade body, and they are not permitted to use the federation’s logo without prior written permission.

Jewelers across India have been on strike since the start of March following the introduction of the duty earlier this year. The protests continue despite a pledge by the government not to pursue jewelers over the tax that prompted premature reports the walkout had ended.
Tags: All India Gems & Jewellery Trade Federation, All India Jewellers Excise Action Committee, Excise duty, GJF, India, Rapaport News, Strike, tax
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