As the jewellers' strike against levy of excise duty entered fourth week, Finance Minister Arun Jaitley today offered to walk the extra mile to ensure that small traders are not harassed. During an interaction with journalists at the PTI office in Delhi today, he, however, made it clear that luxury items cannot go untaxed. He said, Gold and other jewellery will be part of the Goods and Services Tax regime which will subsume the 1 per cent proposed excise levy, as there cannot be a situation where essential items are taxed and luxury items like gold are left out.<br/><br/>The Finance Ministry has already clarified that the 1 per cent levy would be only for jewellers with 12 crore rupees turnover and not small traders. It has also said that artisans and job workers are not covered by this duty and thus they are not required to take registration, pay duty, file returns and maintain any books of account. <br/><br/>Government's decision to levy 1 per cent excise duty on jewellery had created sharp reactions from jewellers who have been on strike for 26 days. The jewellery industry have been demanding roll back of excise duty hike. The government has set up a committee under former chief economic advisor Ashok Lahiri to look into the problems of jewellers and suggest ways to eliminate harassment.<br/>

As the jewellers' strike against levy of excise duty entered fourth week, Finance Minister Arun Jaitley today offered to walk the extra mile to ensure that small traders are not harassed. During an interaction with journalists at the PTI office in Delhi today, he, however, made it clear that luxury items cannot go untaxed. He said, Gold and other jewellery will be part of the Goods and Services Tax regime which will subsume the 1 per cent proposed excise levy, as there cannot be a situation where essential items are taxed and luxury items like gold are left out.<br/> <br/>The Finance Ministry has already clarified that the 1 per cent levy would be only for jewellers with 12 crore rupees turnover and not small traders. It has also said that artisans and job workers are not covered by this duty and thus they are not required to take registration, pay duty, file returns and maintain any books of account. <br/><br/>Government's decision to levy 1 per cent excise duty on jewellery had created sharp reactions from jewellers who have been on strike for 26 days. The jewellery industry have been<br/>demanding roll back of excise duty hike. The government has set up a committee under former chief economic advisor Ashok Lahiri to look into the problems of jewellers and suggest ways to eliminate harassment.

As the jewellers' strike against levy of excise duty entered fourth week, Finance Minister Arun Jaitley today offered to walk the extra mile to ensure that small traders are not harassed. During an interaction with journalists at the PTI office in Delhi today, he, however, made it clear that luxury items cannot go untaxed. He said, Gold and other jewellery will be part of the Goods and Services Tax regime which will subsume the 1 per cent proposed excise levy, as there cannot be a situation where essential items are taxed and luxury items like gold are left out.<br/> <br/>The Finance Ministry has already clarified that the 1 per cent levy would be only for jewellers with 12 crore rupees turnover and not small traders. It has also said that artisans and job workers are not covered by this duty and thus they are not required to take registration, pay duty, file returns and maintain any books of account. <br/><br/>Government's decision to levy 1 per cent excise duty on<br/>jewellery had created sharp reactions from jewellers who have<br/>been on strike for 26 days. The jewellery industry have been<br/>demanding roll back of excise duty hike. The government has set up a committee under former chief economic advisor Ashok Lahiri to look into the problems of jewellers and suggest ways to eliminate harassment.