Port Blair, Feb 23: The Port Blair Municipal Council is charging octroi @ of 6% and 3% on gold and silver respectively, which are very high in compare to the rates prescribed by other states/UTs.
Thus the Gold and Silver Merchants Associations were persisting their demands to reduce the existing notified octroi rates at par with the rates of states/UTs upto 1%.
Consequent on that the Port Blair Municipal Council had convened a meeting on 21-11-2016 under the chairmanship of the Municipal Council Port Blair. The council after having detailed discussion had unanimously reviewed the existing resolution and considered to reduce the octroi of gold and silver from 6% and 3% to 01%.
The Member of Parliament welcome the decision and appreciate the councilors and the Chairman of the PBMC for taking such wonderful decision for the benefit of Gold and Silver Merchants of these islands.
The Member of Parliament has further brief the above decision of PBMC to the Chief Secretary, A & N Administration and requested for early action in this regard.
Ok! fine, now that Gold & Silver merchants have won their battle, they should in the betterment of general public start using CARATOMETER to show the percentage and purity of gold while selling new gold and purchasing old gold.