The government’s new rule of making PAN Card details mandatory for all transactions above One Lakh creates new headache for E-commerce players. Several online purchases like buying TV sets and other high-value items such as air tickets and jewellery etc go as much as One Lakh and it will be a challenge for the e-tailers to collect the PAN details and verify them.
The verification will often delay processing of the order which means delay in the shipping of the product. The companies are planning to take all these problems to government’s notice and ask for relaxation for online transactions.
However economic experts say the average purchase size in the country is aroud 2000 and the new rule is less likely to show any effect. It is said that even the jewellery purchases are not a problem. Average online jewellery transactions are not more than Rs 50,000 at present. However it is detrimental for those who buys Business Class tickets which are often more than One Lakh.
