Imitation jewellery to be cheaper

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.