Daijiworld Media Network – Udupi (SP)

Udupi, Mar 23: Protesting against the doubling the tax on gold jewellery by the state government, Jewellers Association Bangalore has given a call for a state-wide bandh of gold ornaments dealers on March 25. Udupi District Jewellers Association supports the bandh call, said G Jaya Acharya, president of the association, and chief organizer of Coastal Karnataka Jewellers Union.

Addressing a press conference here on Tuesday March 22, Acharya explained that the central government had levied a uniform tax of one percent on the sale of gold ornaments, and that the state government has now put an additional burden of one percent on the same. “This will be added burden on the middle income group. They will have to shell out about Rs 40 per gram of jewellery over and above the cost of gold. Because of this fact, the customers may go to other states to buy their requirement of gold jewellery, which will adversely affect the gold merchants in the state. The state government had earned a revenue of Rs 70 crore as tax out of gold sale last year, and it is expected to go up to Rs 100 crore this eyar. Even the gold market might slump because of this additional tax,” he apprehended.

He also expected job loss to lacs of artisans engaged in gold carving work in the villages across the state, even driving them to streets. He said that a committee comprising of Raghunath Shet, president of Dakshina Kannada District Jewellers Association, Puttur Jewellers Association founder, Balaram Acharya, and president, Muliya Keshava Prasad, had convinced the Chief Minister against levying this tax, but to no avail. “Therefore, we will go ahead with this bandh call,” he stated.

Association vice-president, Nagaraj Acharya, secretary, S Subrhamanya Shet, joint secretary, Girish Shet, and treasurer, Anantapadmanabh Shet, were present at the press conference.