Jewellers protest against PAN rule, threaten strike

Over 10,000 jewellers today hit the roads across the country to protest the government's decision to make quoting of PAN mandatory for transactions worth Rs 2 lakh and above.
They threatened to go on a strike if this rule, which the jewellers claimed has adversely affected their sales and put many out of business, is not scrapped. The rule came into effect from January 1.
"Candle light marches were held in over 200 cities across the country by jewellers. We will continue to protest in some form or other, like silent march or candle light march, for a week or 10 days against the government's decision to make PAN card a must for transactions worth Rs 2 lakh," All India Gems and Jewellery Trade Federation (GJF) Director Ashok Minawala told PTI here.

More than 10,000 jewellers took part in the protest march, he said.
If, Minawala said, the government does not respond positively to their demand, the jewellers across the country will go on a strike in 10-15 days.
GJF representatives, Minawala said, met Finance Minister Arun Jaitely and submitted a representation on the issue.

"We hope the government is committed and believes in improving ease of doing business and removing hurdles. We believe the Government will take steps for the betterment of the jewellery industry as a whole. We are expecting positive response from the Government," he added.
GJF has urged the Government to raise the PAN card threshold for consumers purchasing jewellery to Rs 10 lakh and above, which will be a big respite for the industry, he said.

He claimed already 20-30 per cent of jewellers are out of business after the implementation of the PAN card rule.