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| « specify new duty structure on dredgers imported for dredging... | Master Circular - Bank Finance to Non-Banking Financial... » |
Finance Minister to hold meeting with representatives of Jewellery manufacturers |
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| April, 05th 2012 |
"15"
pib.nic.in
PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
*****
FM TO HOLD MEETING WITH REPRESENTATIVES OF JEWELLERY
MANUFACTURERS FROM MAJOR CITIES ON FRIDAY 6TH APRIL,
2012
New Delhi: Chaitra 15, 1933
April 04, 2012
Excise duty of 1% has been imposed on unbranded jewellery of
precious metals (other than silver) as part of the Union Budget proposals for
2012-13. Several representations have been received in the Ministry of
Finance on behalf of the manufacturers of jewellery including artisans and
goldsmiths seeking reconsideration of this proposal on the ground that the
industry is unorganized and fragmented and would find it difficult to comply
with the provisions of Central Excise Law. There are reports that some
members of the industry have been on strike in several parts of the country
since the presentation of the Budget on 16th March, 2012.
In order to understand their concerns, the Union Finance Minister Shri
Pranab Mukherjee has convened a meeting with representatives of jewellery
manufacturers from major cities on Friday 6th April, 2012 at New Delhi. The
concerned associations have been requested to nominate two representatives
each for the said meeting.
*********
DSM/SS
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