Business

Govt removes compulsion of PAN on purchase of gold above Rs 50K

In a significant decision, the central government has decided to end the compulsion of submitting PAN number for buying gold above Rs 50000. The decision has been taken in wake of coming festive season when gold purchase is considered auspicious and the gold market in any case has been severely hit by the GST. The decision also implies that jewellers would also not be required to pass on the information of such customers to the local financial intelligence unit.

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Govt removes compulsion of PAN on purchase of gold above Rs 50K
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