In the recent budget, 1% Kalal Tax has been introduced for the first ever time by the central government.
Protesting against this proposal and demanding that to be withdrawn, Gold jewellery shops, traders, jewellery related industrial set-ups, etc announced 3 days of shop closure from today (Wednesday, 3rd March).
Accordingly, 7000 jewellery shops in Chennai remained closed today.
Around 35000 jewellery shops were closed throughout Tamil Nadu state.
In Chennai, jewellery shops located in popular urban areas such as T Nagar, Triplicane, Purasaiwalkam, and Mylapore remained closed.
It is estimated that trading worth Rs. 1000 Crores has een affected because of this closure.
Chennai Gold & Diamond Jewellery Shop Owners’Association’s President, Mr. Jayanthilal, informed, ‘the central government must withdraw thae 1% Kalal Tax imposed on gold jewellery.
Protesting against this, the traders have closed 35000 jewellery shops throughout the state. The protest will continue for 3 days from today.
The central government should intervene immediately to save the livelihood of over 12 Lakh workers in this industry. It should come forward to relieve the public of this additional burden. Kalal Tax Law is a rather severe act. This should not be imposed on jewellery industry.
Also, the condition that PAN card details are required for jewellery purchase over Rs. 2 Lakhs should also be withdrawn.
The protest by jewellery shop owners has started today. Only the government will incur heavy losses because of this.
All jewellery shops in Coimbatore also remained closed. Around 627 jewellery shops in areas like Town Hall, Rajaveedhi, Crosscut Road, 100’Road, etc remained closed.
200 jewellery shops in Tirupur and 450 shops in Nigiri remained closed.
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