Shoppers, jewellery sector hail easing of jewellery shopping norms

Updated:8 years, 9 months ago

Surat (Gujarat), Oct 11 (ANI): The shopkeepers and shoppers of Gujarat’s Surat are rejoicing after the government eased norms on purchasing of gems and jewellery just days ahead of Diwali. The notification was withdrawn on Friday, which was hailed by shoppers and jewellery store owners. The government had earlier issued a notification making mandatory for customers to disclose their Permanent Account Number (PAN) on purchases of Rs. 50,000 and above to curb money laundering. The decision to withdraw the notification has come as a big relief for the jewellery and gems sector which is reeling under the twin impact of demonetisation and GST. Diwali is one of the biggest Hindu festivals and buying gold on this occasion is considered auspicious. India is the world’s second biggest gold consumer and the gold sales increased in this time of the year as it includes Dhanteras and Diwali and start of the wedding season.

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Shoppers, jewellery sector hail easing of jewellery shopping norms

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