Ludhiana, Feb. 8 -- Minister Sanjeev Arora raised concerns regarding the GST structure affecting the bicycle manufacturing industry across the country during the budget session on Friday.
The MP highlighted the fragmented tax rates-18% on bicycle parts, 12% on non-electric bicycles, and 5% on electric bicycles-arguing that this structure burdens manufacturers and hampers growth. He has demanded a unified GST rate of 5% to support domestic production and promote the bicycle sector's expansion.
The MP also advocated for a complete GST exemption on bicycles designed for differently-abled individuals, stressing the need for financial relief to encourage inclusivity and innovation in the industry.
Arora underscored the importance of bicycle...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.