On 1st September 2022, Honourable Punjab Finance Minister Shri. Harpal Singh Cheema assured to All India Cycle Manufactures' Association the he that he will present their case at GST Council for lowering the GST to 5 per cent with input tax credit on bicycles, parts and raw materials.

We are hopeful that the GST on bicycles, bicycles spare parts will be reduced by Finance Minister, Smt. Nirmala Sitharaman to 5% so that it becomes more affordable to different sections of people.

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