Striking jewellers meet Modhwadia for solution of tax issue

Ahmedabad, 23 March, 2012

A group of leading jewelers in Gujarat, who are on strike against hike in custom and excise duties on gold proposed in the Union budget, today met Gujarat Congress President Shri Arjun Modhwadia and made a representation before him for solution of new tax burden.

Gujarat Jewelers Association President Shri Shantilal Patel, and office bearers Shri Bharatbhai Zaveri, Manojbhai Zaveri, Manubhai Zaveri, Pradipbhai Zaveri among others called on Gujarat Congress President Shri Arjunbhai Modhwadia at Rajiv Gandhi Bhavan in Ahmedabad.

Shri Modhwadia promised that he would look into the issue properly and would convey the feelings of those involved in silver and gold trade to central level.

The government for the second time in 2012 doubled the import tax on gold bars, to 4 percent of value, raising the cost by more than 1,000 rupees per 10 grams. In sync with these, basic duty on gold ore, concentrate and dore bars for refining have also been enhanced.