As part of a State-wide stir, members of Madurai Jewellers and Bullion Merchants Association downed shutters here on Thursday against the move to make PAN card number mandatory for buyers on transaction of more than 2 lakh.
The usually busy South Avani Moola Street and other places with a high concentration of jewels shops wore a deserted look following the dawn-to-dusk strike. There are 2,500 jewel shops in the city and the association has 1,500 members. With all the shops closed, ahe one-day strike is expected to have resulted in a loss of business worth Rs. 5 crore in the city.
The association wants the Centre to either withdraw the mandatory disclosure of PAN card for purchase above Rs. 2 lakh or increase the ceiling to Rs. 5 lakh. Its general secretary B. Loganathan said that not all farmers would be having PAN cards. Forcing such people to quote PAN number would affect the jewellery business.
The State level office-bearers had planned to meet Union Finance Minister in New Delhi, he said and hoped that the Centre would understand their plight.
