Bicycle makers demanding for the exemption of GST from the budget

To promote the common man's transportation vehicle, the bicycle, bicycle makers, with this good intention, have jointly asked the central government to exclude their products from the proposed Goods and Services Tax(GST).

"Bicycle is common man's transportation and it is a basic necessity for them. We should not tax them. Cycle should not be included in the GST." said the President-designate of All India Cycles Manufacturers Association (AICMA) Pankaj Munjal.

"There are people whose daily income is Rs 100 and a cycle. It is unfair to tax them. India still have 500 million people who cannot afford a cycle. This fallacy has to be addressed," he added.

"Since its inception in 1984, AICMA has been instrumental in bringing in lot of positive changes for the India bicycle industry. As president my endeavour will be to bring about sustained growth of the bicycle industry both in domestic as well as in export sectors." said Mr.Munjal, who is also the managing director of Hero cycles.
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Last updated on 16-02-2012. Published on 16-02-2012.
Published by Bikes4Sale in category News
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