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GJF meet on PAN Card: Finds Form 60 troublesome, may call for strike nationwide
There were also calls for strike and that every state should know and local federation should support and spread news
By: Diamond World News Service
Jan 8 2016 4:45PM
Reference: 12544  


GJF meeting on  Govt’s new PAN card norms, making it mandatory for the purchase of more than Rs 2 lakhs, evoked fiery responses from the leaders of local associations of Bangalore, Indore, Kutch, Coimbatore, Chennai, etc. The leaders of various associations presented their cases before the meet and also pointed out difficulties that they faced at the local level. One of the issues that came out prominently at the meet was that of Form60/61. They felt that it was not that easy to ask every customer, buying over Rs 2 lakhs, to fill that form. 

As Shreedhar GV pointed out at the meet, “GST will be bigger issue, much bigger than the PAN card issue. We are asking Deloitte to give presentation hampering the jewellery industry.” 

It was also felt that Pan Card issue could be handled for shops who dealt in gold jewellery, artificial jewellery and small ticket items, as they could manipulate and ask customers to make bill in two names.  

Babubhai from MJDMA said, “Govt needs to cure the problem and then prevent it. Right now they are giving medicines to prevent it before curing it. The Govt needs to handle black money first.” He also asked for one day strike all over the country to make the govt take notice of them. It may be silent protest, or everyone should hold black flag to protest next day. It was also pointed out that for real estate the limit was Rs 5 lakh to 10 lakh for pan card requirement. Why the same cannot be done for jewellery sector. 

Kutch Bullion Association representative felt that the federation should request government to go slow about the Pan card issue as far as jewellery sector was concerned. 

Abhishek Tayal, Hyderabad Association, said, “Govt considers all jewellers are thief. If need be there should be strike and it should continue for days and months.” 

It was also pointed out that Jewellery sector contributes 3.6 per cent of GDP, still it was being treated shabbily by the policymakers of the country.  

“Pan card issue will impact entire industry not just consumer or retailer ... it's a cycle ... this restriction has been put people under tax regime,” said Ashoka Minawala. 

He added, “Form 60 is so tedious with 24 points, and with declaration that the purchaser will be punishable if not filled properly or wrong by govt... and even jeweller will be  punishable ... why does jeweller needs to be involved in verifying consumer details ... and making customer sit for so long.” 

There was a call for strike and that every state should know and local federation should support and spread news. The meeting felt that the Govt was very firm, thinking that black money could be controlled through this PAN card measure. Unfortunately, this govt has problem with goldsmith, while the last govt had problems with gold.

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