Central excise duty on gold jewellery gets Raj Babbar's attention

Congress leader Raj Babbar on Thursday gave a calling attention notice in Rajya Sabha on the issue of central excise duty on gold jewellery.

Calling attention is a notice given with the consent of the Speaker to call the attention of a minister to any matter of urgent public importance. The minister may make a brief statement or ask for time to make a statement at a later hour or date.

The jewellers' are demanding the withdrawal of excise duty imposed on the sale of gold jewellery. The representatives of jewellers' associations from across the country have been holding a protest at the Jantar Mantar against the excise duty imposed in the Union Budget 2016-17.

Congress vice-president Rahul Gandhi had earlier this month joined the jewellers' protest at the Jantar Mantar after meeting jewellers' in several parts of the country, including Delhi, Mumbai and Kolkata.

The Centre has constituted a panel to look into the jewellers' demands.

The panel, which has been asked to submit its report in 60 days, will look into issues related to the compliance procedure for the excise duty, including records to be maintained, forms to be filled, operating procedures and other relevant aspects.

The government, in the Budget for 2016-17, had proposed one percent excise duty on jewellery without input credit or 12.5 percent with input tax credit on jewellery excluding silver other than those studded with diamonds and precious stones.