Jewellers in the country have decided to go on a one-day token strike on
February 10,2016 to protest against the compulsory provision of PAN card
proof or a form-based declaration for purchases of over Rs. 2
lakh in a financial year.
The All India Gems & Jewellery Trade
Federation on Monday February 08,2016 announced the decision to strike work.
It said over 300 associations of the jewellery trade with over 1 lakh
shops would down their shutters on the day as they faced steep
resistance from buyers against such eligibility or disclosure norms and
had seen a sharp drop in business, particularly in the rural and
semi-urban areas.
Effective January01,2016, the Centre has made PAN cards a mandatory provision for jewellery transactions of over Rs. 2 lakh.
Sankar Sen, GJF's East Zone Chairman, told that a third of the
business had declined since the imposition of the provision.
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