new delhi jewellers continued their strike for the fourth consecutive day and will go on with it till march 7 against the budgetary proposal to reimpose 1 per cent excise duty on jewellery despite the governments assurance that it will look into the issue all india sarafa association and all india gems and jewellery trade federation have decided to extend their stir till march 7 jewellers have been on a strike since march 2 protesting against the proposed excise duty imposition on nonsilver jewellery items made in the budget 201617 as well mandatory quoting of pan by customers for transaction of rs 2 lakh and above jewellers yesterday called on finance minister arun jaitley who promised to look into the matter keeping in view small jewellers and industrys interest we have decided to extend strike for three more days all india sarafa association vicepresident surinder kumar jain told pti finance minister in the budget for 201617 had proposed 1 per cent excise duty on jewellery without input credit or 125 per cent with input tax credit on jewellery excluding silver other than studded with diamonds and some other precious stones meanwhile the finance ministry has clarified that only jewellers with turnover of more than rs 12 crore will be liable to pay 1 per cent excise duty on nonsilver jewellery items traders in several parts of the country including the metros kept their shops closed for the fourth day jain added pti published on mar 6 2016 at 1002 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app finance minister arun jaitley finance ministry excise duty homenewsjewellers extend strike till march 7 shops shut for 4th day