PSMA
On 20/12/2013 12:30
The Pondicherry Shroff Merchants Association has protested against the proposal in the Union budget to impose a two per cent excise duty on gold ornaments.

Addressing presspersons here today, the association president, P. Rajendran, said the imposition of the new duty would jack up the price of ornaments and affect the business and economy in small pockets such as Pondicherry. Workers and goldsmiths would be affected. Hence, the Centre should refrain from imposing the excise duty.

The business was already struggling because of the sales tax and other commitments and the new excise duty would add to the burden.

Mr. Rajendran and other office-bearers said the petitions would be sent to the President, the Prime Minister, the Union Finance Minister, the Lt. Governor of Pondicherry, the Chief Minister and to the two Members of Parliament from Pondicherry urging them to look into their plea of doing away with the duty.

The jewellery shop owners here would abide by the decisions of the shroff merchants in Tamil Nadu.