11 Dec 2019
DiamondWorld Directory
Home |
News
Home
Jewellers come in large numbers to support peaceful candle march
The protest is against the government mandate of PAN declaration of purchases worth Rs2 lakhs and above
By: Diamond World News Service
|
Jan 19 2016 9:05AM
|
Reference: 12574  

DecreaseIncrease
A candle march by the Indian gem and jewellery trade body GJF, received a participation of over 25,000 jewellers in the country, reports say. The march was protest against the mandatory PAN declaration for purchases above Rs 2 lakh, and represented the jewellers of the country.

The government’s mandatory ruling of PAN declaration came into effect from January 1, 2016, in which the limit was reduced from Rs 5 lakhs to Rs 2 lakhs. Jewellers have seen a drop of atleast 25 percent in the sales in the first two weeks of the month as buyers stayed away from purchasing medium and high-end jewellery, as per reports.

Participation in the candle march involved jewellers and those from the gem and jewellery trade associations in India across major cities including Mumbai as well as smaller towns. The GJF in its efforts to represent the woes of the industry had proposed that the government increase the mandatory limit to Rs. 10 lakhs.

The industry notes that PAN cards are not very popular in rural areas as they come under the tax exemption bracket, and this is the segment which also contributes to a good extent to domestic sales in the sector.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
HouseAd_Trade Fair
Recent Issue
2019
AVAILABLE NOW...!
News in Pictures
Videos
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: 22524
GJEPC Chairman Interview
Views: 20562
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 27749
Promo for IJ Awards 2012 at NDTV Profit
Views: 40706
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 44444
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 17495
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 42579
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 40327
Member of:
Supporter of: