Bajaj Auto MD Rajiv Bajaj urges for lower GST on commuter bikes

Rajiv Bajaj, Managing Director of Bajaj Auto, on Friday recommended relaxation in GST rates for commuter bikes.

He stated that the cost of commuter bikes has actually increased due to extreme guideline and high tax. Bajaj prompted the Union federal government to think about decreasing the tax rate to 18% from the existing 28%.

“Two-wheeler volumes have actually not yet recuperated to pre-COVID-19 levels,” stated Bajaj while speakih to press reporters at the launch occasion of brand-new 400cc Pulsar bike.

He even more stated that ASEAN nations have a common equivalent of GST in the variety of 8-14% and the federal government need to come closer to it.

“You take a look at ASEAN nations, the common equivalent of GST is 8-14%. On one hand we desire policies at the greatest level in regards to emissions, which is great. Then the federal government ought to reevaluate the GST at 12-18% and not at 28%,” stated Bajaj.

Bajaj Auto, the biggest two-wheeler maker in the nation, released its most recent addition to the Pulsar lineup, the Pulsar NS400Z, which features an initial rate of Rs 1.85 lakh.

Bajaj Auto has actually offered 18 million Pulsars to date, creating Rs 10,000 crore in earnings considering that its launch in 2001.

In the current monetary quarter ending in March, Bajaj Auto reported a 35% year-on-year boost in net earnings, reaching Rs 1,936 crore compared to Rs 1,433 crore in the matching quarter of the previous year.

Income from operations for the quarter likewise increased by 29% year-on-year to Rs 11,485 crore from Rs 8,905 crore in the exact same quarter in 2015.