Punjab's bicycle industry seeks release of pending GST refunds
GST
Dated:- 22-6-2026
PTI
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 issued 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 t
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