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The Finance Minister in a good gesture to the less influential sections of the society has reduced the Excise Duty on the imitation jewellery to 8 per cent from 16 per cent as the imitation jewellery is mostly consumed the poorer sections of the society. At the same time, expensive and premium jewellery now manufactured and sold under alluring brand names the Finance Minister proposed to levy 2 per cent Excise Duty. There is no levy at all on unbranded jewellery and including the unbranded gold jewellery.
SB/MVVS/NVN/KKA
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