BUSINESS

Imitation jewellery to be cheaper

February 28, 2005 16:13 IST
The government on Monday reduced the excise duty on imitation jewellery to eight per cent from 16 per cent while imposing a two per cent tax on expensive and premium jewellery sold
under brand names.

 Announcing the Budget proposals for 2005-06, Finance Minister P Chidambaram observed that there was no levy at all on unbranded jewellery including unbranded gold jewellery.

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