Srinagar: Gold and Jewellery traders in Kashmir are continuing with their strike against New Delhi’s recent budgetary proposal to re-impose one per cent excise duty imposition on non-silver jewellery items, besides making it mandatory for quoting of PAN by customers for transaction of Rs. 2 lakh and above.
The dealers here are also upset over the government now regularizing gold recycling asking them to do this government set labs only.
All Kashmir Gold Dealers and Workers Association that observed strike at Sarafa Bazaar Hari Singh for the fourth consecutive day said that sector is being unnecessarily being targeted.
Bashir Ahmad Rather, president of association, said that government is trying to strangulate the growth of this sector by imposing such laws that will not only hit the traders, but customers also.
Moreover, a halt on recycling gold in private will hit the business of those involved in this sector.
He called these move as an unnecessary interference in the trade, saying that lot of workers will suffer because of this new rule.
He said that interference of excise departments will hamper the growth of the sector, suggesting that excise be charged on gold imports into India.