LUDHIANA: A Delegation of United Cycle and Parts Manufacturers Association (UCPMA) met state industry minister Sunder Sham Arora at Hoshiarpur on Saturday evening. The delegation which was led by president of
UCPMA, Inderjit Singh Navyug, discussed various issues of bicycle industry such as delayed VAT refund, problems being faced from Punjab State
Power Corporation Limited (PSPCL) and E-way bills in the meeting.
According to Pardeep Wadhawan, vice president of UCPMA, “The main focus of the meeting was to discuss major issues related with PSPCL and E-way bills. We have demanded that the limit for e-way bill should be raised to a minimum Rs 2 lakh per transaction and the peak load charges levied by PSPCL should also be taken back at earliest.”
Achhru Ram Gupta,
finance secretary of UCPMA, said, “We took up the issue of delay in processing VAT refunds by state taxation department which is still sitting over our money even after levying of GST last year. With VAT refunds worth lakhs stuck with the department we have no more capital to invest in business. If no action is taken by government we will be forced to shut down our businesses.”
After listening to the grievances of the businessmen, industry minister Arora, assured them that VAT refund amount of Rs 200 crores will be released by the end of June 2018 by the government.