Government rolls back 1% tax on cash purchase of gold jewellery
May 31, 2016  09:59
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JUST IN: Government rolls back Budget decision to apply 1% tax on cash purchase of gold jewellery

The jewellers had earlier been on a 45-day strike after Finance Minister Arun Jaitley in his Budget speech in February proposed 1% excise tax on non-silver jewellery.

Successive governments have struggled to curb appetite for gold in Asia's third largest economy, despite the imposition of a 10% import duty in 2013 and other restrictions.
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