In response to Rajya Sabha MP Sanjeev Arora’s letter, Union Minister of State for Finance Pankaj Chaudhary said, in a written reply, that the issue of the reduction of GST on bicycles and their parts had been deliberated by the GST council in its 31st and 37th meetings. The minister also assured the MP that the GST, along with rate rationalisation in the sector, was being examined by the group of ministers in the GST Council.

MP Arora had urged the minister to look into the rationalisation of GST on bicycles and their parts from 12 to 5 per cent with ITC benefits. The MP had highlighted several points, urging the minister to consider these recommendations in the GST Council meeting. He said, “Reducing GST on bicycles and parts would make them more affordable, curb GST evasion, and support the growth of the ‘Make in India’ bicycle industry.”

MP Arora had also taken up this issue during the Zero Hour in the Budget Session of Rajya Sabha on February 7.

Source: The Tribune