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Gold, silver merchants' meet on March 28

Staff Reporter

Kochi: A conference of the All Kerala Gold and Silver Merchants Association, Central Zone, to be held here on March 28 will discuss various problems faced by the gold and silver merchants.

At a press conference here on Saturday, James Elavumkudi, chairman of the association, and other office-bearers said that the meeting would chalk out ways to tackle such problems. The association would take a decision to end unhealthy competition in the jewellery sector and thrash out a formula to stop harmful advertisements being splashed by a section of the jewellery owners.

The advertisements such as offering discount on the jewellery were a fraud on consumers and no jewellery owner could offer such discounts. They said the association had strongly opposed the introduction of one per cent purchase tax on gold ornaments and also the decision to take away the "set-off benefits." The Government took these decisions on the ground that the tax revenue had plummeted following the introduction of Value Added Tax (VAT).

They said that the association had started implementing various welfare measures.

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