{"id":7829,"date":"2021-01-09T00:17:02","date_gmt":"2021-01-09T07:17:02","guid":{"rendered":"https:\/\/sanjhisoch.com\/english\/?p=7829"},"modified":"2021-01-09T00:17:02","modified_gmt":"2021-01-09T07:17:02","slug":"planning-to-purchase-jewellery-know-if-you-require-kyc-or-not","status":"publish","type":"post","link":"https:\/\/sanjhisoch.com\/english\/planning-to-purchase-jewellery-know-if-you-require-kyc-or-not\/","title":{"rendered":"Planning To Purchase Jewellery? Know If You Require KYC Or Not"},"content":{"rendered":"<h6 class=\"article-excerpt\"><strong>According to the reports, the information being circulated that any purchase of gold, silver, jewellery or precious gems even if below Rs 2 lakh, in cash require KYC&#8211; are baseless.<\/strong><\/h6>\n<p><strong>Sanjhi Soch Beauro \u2013<\/strong>The Department of Revenue (DoR) under the Ministry of Finance on Saturday clarified that only purchase of jewellery above Rs 2 lakh needs mandatory Know Your Customer (KYC).\u00a0<strong>ALSO<\/strong>News agency ANI quoted a DoR source saying as &#8220;Any purchase of gold, silver, jewellery or precious gems and stones below Rs 2 lakh does not require PAN or Aadhaar of a customer as mandatory KYC document.&#8221;As per the report, the centre while clarifying a December 28, 2020 notification said that cash purchase of jewellery, bullion and precious gems and stones of value more than Rs 2 lakh is not allowed without KYC in the country for the past few years.<\/p>\n<p>The notice issued under the PML Act stated that persons\/entities purchasing gold, silver or high value stones &#8216;in cash transactions&#8217; worth Rs 10 lakh or above need to fill the KYC document as it is a requirement of FATF (Financial Action Task Force.)<\/p>\n<p>FATF is an inter-governmental body that oversees global money laundering and terrorist financing, and sets international standards aimed to prevent illegal activities.<\/p>\n<p>Sources clarified that the misinformation being circulated that any purchase of gold, silver, jewellery or precious gems even if below Rs 2 lakh, in cash require KYC&#8211; are baseless.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the reports, the information being circulated that any purchase of gold, silver, jewellery or precious gems even if below Rs 2 lakh, in cash require KYC&#8211; are baseless. Sanjhi Soch Beauro \u2013The Department of Revenue (DoR) under the Ministry of Finance on Saturday clarified that only purchase of jewellery above Rs 2 lakh [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sanjhisoch.com\/english\/planning-to-purchase-jewellery-know-if-you-require-kyc-or-not\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Planning To Purchase Jewellery? 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Sanjhi Soch Beauro \u2013The Department of Revenue (DoR) under the Ministry of Finance on Saturday clarified that only purchase of jewellery above Rs 2 lakh [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sanjhisoch.com\/english\/planning-to-purchase-jewellery-know-if-you-require-kyc-or-not\/\" \/>\n<meta property=\"og:site_name\" content=\"Sanjhi Soch Worldwide Newspaper\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Sanjhi-Soch-Weekly-Newspaper-TV-Channel-Wake-up-call-for-the-Community-331562534227264\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-09T07:17:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sanjhisoch.com\/english\/wp-content\/uploads\/2021\/01\/2-10.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"483\" \/>\n\t<meta property=\"og:image:height\" content=\"433\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@SanjhiSoch\" \/>\n<meta name=\"twitter:site\" content=\"@SanjhiSoch\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sanjhisoch.com\/english\/#website\",\"url\":\"https:\/\/sanjhisoch.com\/english\/\",\"name\":\"Sanjhi Soch Worldwide Newspaper\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/sanjhisoch.com\/english\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/sanjhisoch.com\/english\/planning-to-purchase-jewellery-know-if-you-require-kyc-or-not\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/sanjhisoch.com\/english\/wp-content\/uploads\/2021\/01\/2-10.jpg\",\"width\":483,\"height\":433},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sanjhisoch.com\/english\/planning-to-purchase-jewellery-know-if-you-require-kyc-or-not\/#webpage\",\"url\":\"https:\/\/sanjhisoch.com\/english\/planning-to-purchase-jewellery-know-if-you-require-kyc-or-not\/\",\"name\":\"Planning To Purchase Jewellery? 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