Excelsior Correspondent
JAMMU, June 1: Chairman of Sarafa Association and Swarnkar Sangh Joint Action Committee Raman Suri, Sanjay Jain, Vice President, Sarafa Association and Mohammad Iqbal, General Secretary Kashmir Gold Jewellers called on High Level Committee (HLC), which was constituted by Union Finance Minister Arun Jaitley regarding Excise Duty matter.
The HLC headed by Dr Ashok Lahiri had a meeting with jewellers representatives from Jammu and Kashmir. Raman Suri, Sanjay Jain and Mohammad Iqbal apprised Dr Lahiri and his team about the ill-effects of the proposed hike in excise duty on non-silver jewellery.
Suri gave presentation on excise duty roll back. He stated that till implementation of GST, excise should be rolled back. He added that gold jewellery comes under 32 Handicraft items, so it is automatically exempted from excise.
He stated that sentiments of 6 crore jewellers, swarnkars are associated as result of Gold Control Act 1962, in which almost 300 swarnkars sacrificed their lives, who are still remembered as Martyrs of Gold Control Excise Act.
Suri maintained that excise was imposed so hurriedly that budget was presented on 29.02.2016 and from midnight Excise implemented, atleast this sensitive issue should be discussed with associations before budget or before implementation.
“Gold is not a luxury item as said again and again by Arun Jaitely as it is being used in India by women as mark of their married life. It is an investment as Capital Gain is being paid on it in Income Tax since years. Most important, countries keep it as reserves from which their power is calculated”, Suri stated, adding that it is highly impossible to maintain daily stock as there are thousands of pieces in stock.
The opposition of such a large number of population of country will surely lead to political instability in the country, hence decreasing the support to the present Government, which jewellers never want, he said, adding that old gold ornaments of customers are reconverted into new one after charging only labour charges, hence levy of excise duty in this case is highly offendable.
Suri also raised various other points including threshold issue, goods movement issue, Excise Officer’s issue, Make in India issue and 22 days long 2012 agitation issue.
He asked the HLC members especially Dr Ashok Lahiri to recommend roll back of the excise duty in his report, which they will submit to Finance Minister on June 15.
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