TaxTMI 
TaxTMI 
Punjab's bicycle industry seeks release of pending GST refunds
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....unjab's bicycle industry seeks release of pending GST refunds<BR>GST<BR>Dated:- 22-6-2026<BR>PTI<BR>Ludhiana, Jun 22 (PTI) Punjab's bicycle industry has sought immediate release of pending GST refunds, saying delays have created a severe working capital crisis and pushed many manufacturing units into financial distress. ? The United Cycle and Parts Manufacturers Association, in a statement is....
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....sued on Monday, said bicycle manufacturers are facing liquidity problems as large amounts of GST refunds remain pending with the Punjab government. ? Former president of the industry body DS Chawla said the Centre's decision to reduce GST on bicycles from 12 per cent to 5 per cent had benefited customers and promoted an eco-friendly mode of transport. However, he said, manufacturers were ....
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....facing difficulties because raw materials such as steel, rubber, plastic granules, paint, chemicals and packaging materials continue to attract 18 per cent GST. ? As a result, manufacturers have to claim refunds of the tax difference, but delays in processing these claims have blocked substantial funds, he said. ? Chawla said the shortage of working capital has forced many units to depen....
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....d on loans and bear high interest costs. ? He also alleged irregularities in the refund process and urged the government to make the system completely faceless and online. ? Since GST returns are already filed digitally, the refund mechanism should also be processed electronically to ensure transparency and reduce corruption, he said. ? Chawla outlined the problem affects both MSMEs....
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.... and large manufacturers alike and warned that continued delays could adversely impact production, employment and government revenue. ? He appealed to Chief Minister Bhagwant Mann and the state Finance Minister to clear all pending GST refunds on priority and ensure the timely processing of future claims. ? The association also demanded strict action against officials responsible for unn....
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....ecessary delays in releasing refunds. PTI COR VSD SHM =============<BR> News - Press release - PIB ....