04 Dec 2022
DiamondWorld Directory
Home |
GJF asks government to increase limit for PAN declaration
The body seeks the limit be increased from over Rs 2 lakh to over Rs 10 lakh
By: Diamond World News Service
Jan 6 2016 9:17AM
Reference: 12521  

Following the unease which the Indian gem and jewellery industry is feeling for the mandatory PAN card declaration for purchase of above Rs 2 lakh, the All-India Gems and Jewellery Federation (GJF) made a representation to the Central government to increase the limit to over Rs 10 lakh, as per reports. The government’s mandate is made effective January 1, 2016.

The GJF feels this mandate would encourage business to be shifted to the unorganised sector, and give air to many illegal ways of business like smuggling, creating a backward trend for the industry, reports say.

The current jewellery demand is dominated from the rural sector which account for 70 percent, where many do not even poses a Pan card. According to reports the GJF believes the government should distinguish between bullion and jewellery purchases to curtail black money, as per reports.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32004
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 9501
GJEPC Chairman Interview
Views: 28112
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39342
Promo for IJ Awards 2012 at NDTV Profit
Views: 57050
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 68544
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21869
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 50909
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53085
Member of:
Supporter of: