Bicycle industry wants GST relief in the budget.

► Date : Jan 23, 2023


The bicycle industry is passing through a recessionary phase and the Central or state governments have failed to address the issue, claimed industrialists.


Avtar Singh Bhogal from Bhogalsons said the greatest threat to the cycle industry is from China. “China is sending under-billed parts and products. Many of the small time dealers on Gill Road have having the bill of Rs 1,300 per cycle whereas the gear-changer alone is priced at Rs 2,000. How can we compete with them in this tax evasion? We have submitted memorandums to the government too and hope that in this upcoming budget, steps will be taken by the Indian government to save the bicycle industry,” he said.


Former president of the United Cycle Parts Manufacturers Association (UCPMA), Charanjit Singh Vishkarma, stated that the Union Budget should address 2-3 major issues. "China poses the most serious threat. Bicycle parts made in the United States should be prohibited from entering China. Second, instead of 12%, the GST on bicycles should be reduced to 5%. "The issue of reflectors is there; we should be given a little breathing room because, at this point in the recession, spending extra money on reflectors would not be viable," said Vishkarma.


FICO general secretary Rajiv Jain said, “The government should provide special subsidies for MSMEs to promote Make in India products. The entire bicycle industry wants hike in import duty.”


► Tags : #tax #bicycleindustry #gst

Leave a Reply

No Comment

Opinion Poll

Do you think there should be incentive for filing of early return instead of penalty for late return

Thought of the day


If you can't do great things, do small things in a great way - Napolean Hill

Upcoming Events

No Data