Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Clusters

Under Invoicing Leads to GST Envasion: Ludhiana Bicycle Manufacturers

Under Invoicing Leads to GST Envasion: Ludhiana Bicycle Manufacturers

author-image
SMEStreet Desk
24 Sep 2019 08:25 IST

Follow Us

New Update
Manufacturing,

"Under-invoicing” of bicycles by some unscrupulous dealers in Ludhiana has hit the market of organised players and is also leading to GST evasion, cycle makers have claimed. Organised bicycles manufacturers said it has become difficult to hold onto their existing market because of the “rampant illegal practice of under-invoicing” taking place in Ludhiana — the country’s major manufacturing hub of cycles and cycle parts.

An ordinary bicycle, priced at Rs 2,500 a unit, is being invoiced at Rs 900 a bicycle by some illegal dealers, leading to the evasion of the GST, they said while citing an example. Twelve per cent GST is charged on a bicycle.

“By under-invoicing, some illegal dealers are evading GST of Rs 192 on one unit of bicycle as against payable tax of Rs 300 (GST on Rs 2,500),” said a Ludhiana-based owner of a prominent brand of bicycle who wished not to be named.

Under Invoicing Ludhiana Bicycle Manufacturers GST
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!