Jewelry shops are closed in THoothukudi District

Jewelry shops are closed in THoothukudi District 

In Thoothukudi district lot of jewelry shops are there like Annai Jewellars, Alagar Jewellars, Kalyan Jewellars, Thangamayil Jewellars etc., All jewellary groups has problem with the increased Tax by our budget.

Gold jewelry demand to cancel the excise taxes covered in Thoothukudi, the jewelry shops. An intent gold jewelry sale in the central budget to the excise tax was imposed.

Gold jewelries brand without the tax imposed for the production of a few percent. Expressed their resistance to closing stores in last month also Similarly, up from yesterday's 10-week period in Tamil Nadu Jewelry Federation decided to shut the jewelry shops in Thoothukudi.

Previously from 2 percent to 4 percent tax on imports was upgraded to gold. If jewelry is more than 2 million rupees to pay one percent additional sales tax, service tax charged on jewelry, such notice was published for making charges also.

Notices were published in Budget reactions caused heavy gold jewelry among traders in Thoothukudi. New taxes would increase the price of gold jewelry, due to this takes gold jewelry sales decreased by a large amount also damage that their vendors started for strikes in Thoothukudi.

Except few shops in Thoothukudi, which was closed yesterday, most jewelry stores, Gold, silver, pearls, diamonds, jewelry traders association members participated in the bandh in Thoothukudi.