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Union Budget 2021: Jewellers seek a package from FM

With just days to go before Union Budget 2020 is tabled in Parliament, the Jewellers' Association has sought a stimulus package from Nirmala Sitharaman.

Jan 27, 2021, 2:26 PM IST

Karnataka: With just days to go before Union Budget 2020 is tabled in Parliament, the Jewellers' Association has sought a stimulus package from Nirmala Sitharaman.

The Jewellery sector was also impacted by Covid-19 and has been witnessing dull business. 

The Jewellers' Association has placed some demands before Finance Minister Nirmala Sitharaman.

The main demand is reducing the existing taxes of 17.5 percent, including GST, on gold business.

Due to high taxation, Gold is being charged at Rs 8.5 lakh per kilogram and ultimately it is impacting customers. 

Suresh Kumar Ganna from The Jewellers' Association Bengaluru has sought that the customs duty of 12.5 per cent be slashed.

The goldsmiths are also seeking a financial package to help them recover from the pandemic impact.