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Abolition of VAT will help cycle industry, says Dhanda

Punjab government is working on a proposal of 0% VAT on bicycle and its parts.

United Cycles Parts and Manufacturers Association (UCPMA) and a few others has supported this step of the government while the Federation of Industrial and Commercial Organisation (FICO) has opposed it.

The Punjab government was working overtime to abolish VAT on the bicycle industry. This was stated by Satish Dhanda, vice-chairman of the Punjab Medium Industry Development Board, in a recent interaction with industrialists here.

The United Cycles Parts and Manufacturers Association (UCPMA) and a few others has supported this step of the government while the Federation of Industrial and Commercial Organisation (FICO) has opposed it.

Interestingly, president of UCPMA Charanjeet Singh Vishvkarma and president of FICO Gurmeet Singh Kular were present at this meeting. But they did not speak anything.

Dhanda stated, “Instead of doing leg-pulling of each other, industry should join hands and must let this happen as it will be in the larger interest of the bicycle industry.”

The Punjab government is working on a proposal of 0% VAT on the bicycle and its parts due to which the industry will be free from all kinds of tax payment to the excise and taxation department. Dhanda said that the state’s excise department had consulted various bodies before working on it and still objections, if any, could be resolved.

First uploaded on: 29-12-2014 at 05:37 IST

JAC Jharkhand Board 10th Result 2024: Websites to check JAC Matric scorecard

EducationUpdated: April 19, 2024 13:30 IST

Jharkhand Academic Council (JAC) will declare the Class 10 results today (April 19) on their official websites. Students can access their scorecards by entering their login details on jac.nic.in, jharresults.nic.in, or jac.jharkhand.gov.in. The marksheet will include personal details, subject-wise marks, and a cumulative score. Last year, the pass percentage was 95.38%.

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