1% levy only on jewellers with ₹12 cr turnover
The government on Friday clarified that the 1% levy on non-silver articles, proposed in the Budget, will only apply to jewellers with an annual turnover of over ₹12 crore. Meanwhile, jewellers, who had gone on a three-day strike on March 2, saying that the move would put a significant burden on the industry, have extended their strike till March 7.