The sale of luxury products such as handbags, watches and writing instruments has been hit by the new PAN must rule. Submitting PAN card details has been made mandatory by the government for any transaction above Rs 2 lakhs in an attempt to raze out black money. Luxury store executives say that they have lost several lakhs of rupees over the last few days but have not been able to figure out a way around the problem, as most of the customers are not willing to furnish their PAN card details.