Govt Hikes Import Duty On Gold, Silver Jewellery To 15%

Silver jewelry, textiles make up new McClung exhibit This might assist safeguard domestic artisans," mentioned P C Jewellers Managing Director Balram Garg. Gold jewellery imported during 2012-13 stood at USD 5.04 billion. In the April-June quarter of the active financial year, it was USD 112 million. India imports the maximum jewellery from Thailand. Besides providing a level playing field for domestic jewellery machines, the hike inside jewellery duty seeks to contain imports of gold ornaments. The customs duty about articles of jewellery had not been increased inside line with the changes in duty rates on gold, silver plus platinum since January 17, 2012, the official statement mentioned. Until now, the customs duty on both the primary metal as well as the articles of jewellery/goldsmiths' or silversmiths' wares were the same at 10 per cent, it added. The government hiked the import duty on gold last month for the 3rd time in 2013 as element of measures to contain the widening present account deficit. The duty on silver plus platinum were additionally improved to 10 percent. Besides, the customs duty about gold dore bars, ore or concentrate was improved to 8 percent from 6 %. Further, the RBI moreover restricted the import of gold on a consignment basis by banks. Finance Minister P Chidambaram has said gold imports will be contained under 845 tonnes shipped in the previous financial year. Gold imports in value terms fell to USD 650 million in August, from USD 2.2 billion inside July. Read More at http://www.firstpost.com/economy/govt-hikes-import-duty-on-gold-silver-jewellery-to-15-1115311.html Wilberding donated his collection to the Ringling Museum. While the objects on exhibit many often were used from 1880 to 1920, McClung Assistant Curator Catherine R. Shteynberg said which Turkomen girls wear synonymous jewelry today, particularly for weddings, festivals and other unique celebrations. Accenting the jewelry are goods gathered from local sources. Seven colorful woven wool rugs, woven bags and a pillow are on loan from Persian Galleries in Knoxville. Three costumes two 20th-century silk plus cotton embroidered robes worn by ladies and a child's cotton tunic decorated with coins and metal discs are on loan from Knoxville textile collector Judy Stewart. However it's the jewelry which is the focus of "Splendid Treasures." The mostly silver objects frequently have a delicate appearance with carved patterns plus embossed surfaces. Images representing rams' horns occasionally are incorporated into designs. Sometimes jewelry-makers gilded the silver utilizing gold dust plus an amalgam like mercury to create a gold finish. Different styled headdresses noted a woman's marital status. Many objects or designs were viewed because fertility symbols to be used by a bride until she bore kids. As a girl bore kids, she would wear less jewelry about a day-to-day basis yet nevertheless adorn herself for specialized occasions, Shteynberg said. This pair of cuff bracelets, created between 1880 and 1920, are made from silver, gold plus set with carnelian. The large amount or rows about these bracelets recommend they were when used with a female of high status plus terrific wealth. These bracelets, plus a few of the more widespread, less ones, are on exhibit at the Frank H. McClung Museum found on the University of Tennessee campus. A female might wear an amulet breastplate, also known as a tumar, at her event. Tumars were flexible pieces of silver, capable to be used on a woman's chest, at her waist or her side. A horizontal bar worked into the jewelry was hollow thus its wearer may spot created prayers or alternative small, unique objects inside. Cuff silver bracelets adorned with reddish carnelian stones were well-known adornments. For the authentic variation including any supplementary pictures or movie, see http://www.knoxnews.com/news/2013/jan/19/silver-jewelry-textiles-make-up-new-mcclung/