FICO opposes proposal of 0% VAT on cycle and cycle parts
Author(s): Ludhiana News Desk @ city air newsThe photograph taken at the time of meeting of cycle industry held at Ludhiana on Saturday. Ludhiana, December 13, 2014: A meeting of cycle industry under the chairmanship of K.K Seth, Chairman,...
cityairnews
Dec 13, 2014 12:30
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The photograph taken at the time of meeting of cycle industry held at Ludhiana on Saturday.
Ludhiana, December 13, 2014: A meeting of cycle industry under the chairmanship of K.K Seth, Chairman, Federation of Industrial and Commercial Organisations (FICO) was held today. It held discussions regarding proposal of 0% VAT on bicycle industries.
It was observed that 0% VAT will affect a lot and input cost of product will increase. It was urged that the state government should reduce VAT on cycle industry @ 2.75% rather to get it abolish.
Gurmeet Singh Kular (Chairman PHD chamber of Commerce & Industry Ludhiana Zone), U.K. Narang (President G13 Association), Manjinder Singh Sachdeva (President Bicycle Research & Development Organisation), Satnam Singh Makkar (President Dhandari Industrial Welfare Association), Rajiv Jain (Secretary FICO), Ravi Mahajan (Hippo Bikes), Subash Lakra (S. K. Bikes), Lalit Sharma and Balbir Singh Mankoo were among those present.
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