Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Relax excise, rein in Chinese imports: Cycle industry.


Date: 23-02-2015
Subject: Relax excise, rein in Chinese imports: Cycle industry
LUDHIANA: The cycle industry has high expectations from this year's budget. Mostly, industry leaders are hoping for relaxation of excise and increase in import duties. President, United Cycle and Parts Manufacturers' Association Charanjeet Vishvakarma underlined the need for support to help improve the condition of the industry.

"We want removal of excise duty on cycles. Besides, we also want the government to provide separate cycle tracks on new highways being constructed and broadened," said Vishvakarma. According to him, there is a need to increase import duty on products from China and proper monitoring of products being imported through the South Asian Free Trade Agreement (SAFTA).

President, Federation of Industrial and Commercial Organization (FICO) Gurmeet Kular said association members discussed budget expectations during a meeting. "There is a demand for Technical Upgradation Funds scheme for the bicycle industry on the lines of the one for the hosiery and textile industry. This will help the industry keep pace with changing times and increase global market share," he said.

Industry leaders also want abolition of 2% Central excise on complete bicycle on the grounds that it is the "poor man's luxury vehicle." They feel abolition of excise will help reduce price by Rs 60.

Increase in Import duty on bicycle and parts, taking it to 50%

Calling of original bill of entry while calculating customs duty like done online in African countries

Raising exemption limit of Central excise from Rs 1.5 crore to Rs 3 crore

Introduction of Goods and Services Tax (GST) for a uniform tax policy all over the country

Increase in exemption of income tax for senior citizens to Rs 5 lakh

Increase in housing loan interest limit from Rs 1.50 lakh to Rs 3 lakh

Increase in service tax limit from Rs 10 lakh to Rs 20 lakh

Changes in Companies Act, 2013 to facilitate smooth working of private limited companies

Source : timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001