With the new introductions on Income Tax in the Union Budget Report 2012, Udaipur Jewelry  businessmen aren’t looking much relaxed. In order to express their objections on various new amendments, the sarafa bazaar of Udaipur was closed down for a day; the strike might continue for another two days.

Today early afternoon, a number of jewelers gathered at Ghanta Ghar to state their disappointment on the new Union Budget 2012. As per the jewelers, there are several issues in this amendment, which will affect their business.

The first among the many new aspects was the introduction of a 1% excise duty on all non-branded jewelry makers. “There are many jewelry and ornament craftsmen who work hard to survive; how can they afford an excise duty?”, said Ganesh Daglia, patron of Udaipur Jewelers Association.

Inder Mehta, President of the association told UT that “the custom duty is increased to 4 percent and the trader has to pay additional tax on cash sale of Rs.2 Lakh and that will definitely pressurize the businessmen.”

A protest followed by a joint meeting of Sarafa Traders with members of the Chamber of Commerce; the meeting was led by Paras Singhvi, President of the Chamber of Commerce.