Jewellers may protest against PAN for deals of Rs 2 lakh, above

Jewellers on Friday said they might launch 'protests' against the government's decision to make PAN cards mandatory for any transactions of Rs 2 lakh and above, the implementation of which started from this month.

Jewellers' associations from across the country met here today to discuss the government move to make PAN cards mandatory on any transaction of Rs 2 lakh. They said that due to this move, their business has gone down by 25-30 per cent.

"We are planning to take representation to the finance minister and the finance secretary in 2-3 days and urge them to make the PAN card mandatory on jewellery purchase of over Rs 10 lakh instead of the present Rs 2 lakh," All-India Gems and Jewellery Federation (GJF) Chairman Sreedhar GV said here.