Details to fill in pan card application (1)

1
Pan Card Details Online

• By Ipancardstatus.co.in

2

• The All India Gems Jewellery Trade Federation
  (GJF) criticized new rules that slashed a
  threshold above which a customer must show their
  Permanent Account Number (PAN) by 60 .

3

• New rules make disclosure mandatory in jewelry
  purchases on top of the rupee same in principle
  as 3,026 (INR 200,000), in contrast to a
  previous limit of 7,564 (INR 500,000), in line
  with a GJF statement December 18.

4
(No Transcript)
5

• Meanwhile, Titan Company Ltd, among Indias
  biggest dealers, said within a statement December
  17 the amendments are directed at curbing the
  nations blackmarket and broadening its tax base.

6

• While the modern limit on Details to fill in pan
  card application disclosure could negatively
  impact cash sales of jewellery, a lot less than
  10 percent of Titans jewelry revenue within the
  recent past originates from products costing
  between 3,026 and 7,564.

7

• Sreedhar GV, chairman, All India Gem Jewellery
  Trade Federation (GJF) said "This will not be
  practical all of which will discriminate 70 with
  the rural buyers including farmers as is also not
  under tax net and never have PAN cards.

8

• We urge the Government to get rid of pan card
  requirement in jewellery sector and keep
  status-quo on use of TCS on sales of bullion on
  Rs. 2 lakh additionally, on Rs. 5 lakh of bijou.

9

• Mr. Sreedhar further said "The gems and jewellery
  sector is just not a source to draw black money
  because there's a value addition of 15-20 in
  developing these products while bullion can be a
  preferred segment for investment by black money
  holders.

10

• Overall, GJF believes the decision on imposing
  pan card restriction will not be fair and
  justifiable under law click here because it
  tantamount to discrimination against many
  populations who don't charge pan card number.

11

• In India, hardly eight to ten per cent of
  population has pan card and numerous rural buyers
  of bijou will be missing out on buying jewellery
  items for marriages with their family members.

12
THANKS

• CREDIT Ipancardstatus.co.in