Jewellers in the city took out a candlelight march in the city against the Centre’s recent move making PAN card mandatory for buying jewellery worth more than Rs. 2 lakh.
The jewellery association claimed there has been a drop in transactions over the past fortnight. They dubbed the norm, which came into force on January 1, as impractical as the country has issued only 22.3 crore PAN cards till date. They said it was unfair to expect the industry to cater to only a cross-section of society.
Also filling Form 60 for transactions above 5 lakhs was unnecessary.