New Delhi, Mar 10 (KNN) Traders in the national capital have called for a 'bandh' on March 17 in support of jewellers who are on indefinite strike against the 1 per cent excise duty levied on manufacturing of gold and diamond jewellery, said Confederation of All India Traders (CAIT).

“The bandh has been called in support of the jewellers. If they call off the ‘bandh’, we will also call it off,” Praveen Khandelwal, National General Secretary, CAIT told KNN.

The decision in this regard was taken on Wednesday during a meeting which was attended by more than 200 trade associations from across Delhi.
 
"It is a joint call of all trade associations of Delhi for expressing solidarity with jewellery traders. The Delhi traders will also participate in large numbers in a massive rally to be held on the same day by jewellers," CAIT said in a statement.

"The traders are not afraid of paying the tax but it is the complex taxation system which is victimising the trading community. Several other options are available for augmentation of revenue and therefore the government should withdraw levy of excise on jewellery," it added.

The statement said as per an estimate, during the eight-day strike period, there is a business loss of about Rs 8,500 crore which further resulted into a revenue loss of about Rs 250 crore in terms of custom duty and about Rs 65 crore as VAT. 

“Trade across Delhi will be shut on March 17 but we will assure that the common man will not face any difficulty. Important items will be available in the market but the shops would be closed,” Khandelwal said. (KNN Bureau)