Highest GST on two-wheelers in the country, Bajaj Auto CEO Rajiv Bajaj said – prices are increasing due to more regulation
Government imposed 40 percent duty on onion export, new rates implemented
Highest GST on two-wheelers in the country, Bajaj Auto CEO Rajiv Bajaj said – prices are increasing due to more regulation.
Claim in the report – More demand for AC in summer, prices increased by five percent – Companies are facing supply problem.
New Delhi
To control onion prices, the central government has imposed 40 percent duty on export. The government has decided to give exemption from duty on import of indigenous gram till March 31, 2025. Along with this, duty exemption on import of yellow peas has also been increased through ‘Bill of Entry’ issued on or before October 31, 2024. The Finance Ministry has said in a notification that all these changes will be effective from May 4. At present there is a ban on export of onion. However, the central government has been allowing export of onions to its friendly countries. Recently, export of a certain quantity of onion was allowed to six countries including UAE and Bangladesh. In August last year, the central government had imposed 40 percent export duty on onion exports till December 31, 2023. However, to control the prices of onion in the domestic market, the government had imposed a ban on its export, which is still in effect. It is noteworthy that ‘Bill of Entry’ is a legal document which is filed by importers or customs clearance agents on or before the arrival of imported goods.
Highest GST on two-wheelers in the country, Bajaj Auto CEO Rajiv Bajaj said – prices are increasing due to more regulation.
New Delhi
Bajaj Auto CEO Rajiv Bajaj says that two-wheelers have the highest GST in India. Here we are paying 28 percent GST. In ASEAN countries and Latin America this rate is 8 to 14 percent. Another reason for increasing prices of two-wheelers is more regulation in the country.
Said in a program, the government should think again regarding the GST rate on two-wheelers. It should be reduced to between 8 to 14 percent. Bajaj asked, why is it that we should pay 28 percent GST rate on vehicles owned by the common man in the country? If this rate reduces then more and more people will have access to two-wheelers. two wheelers in india Vehicle growth has been impacted by price increases and changes in regulations, apart from the COVID-19 pandemic.
Standards like BS-6 are good
According to Bajaj, such dramatic change in the price of two-wheelers is due to several things. The biggest reason for this is excessive regulation. The government needs to consider this also. Standards like BS-6 are good. Bajaj said, we want regulation at the highest level. For example, we are happy with regulations like emissions. This will provide clean air to everyone. But, the industry’s concerns also need to be addressed.
Claim in the report – More demand for AC in summer, prices increased by five percent – Companies are facing supply problem.
New Delhi
Due to increasing temperature, the demand for air conditioners (AC) has increased across the country. Especially in North and Central India. In view of the increasing demand, manufacturing companies have increased the prices of ACs by five percent. Anand Rathi Financial Services has claimed in a report that after April, the maximum temperature in most parts of the country is expected to be above normal in May and June also.
Due to this, the demand for AC will remain strong till mid-June. But, AC manufacturing companies are facing challenges on the supply front. In view of increasing demand and less supply, manufacturing companies in many states have increased the prices of ACs. Blue Star has increased the prices of its various models by three-five percent. According to the Indian Meteorological Department, the average minimum temperature in April in eastern and northeastern India was 22 degrees Celsius. This is the highest since 1901.
Demand increased by 25 percent in UP-Haryana
In central India, demand for AC has increased by 15-20 per cent in terms of numbers in Uttar Pradesh and Tezzbuzz. In North India, Rajasthan and Haryana are witnessing a surge in demand for ACs after Holi. In both these states, demand has increased by 20-25 percent. Local dealers have expected demand to increase by 25-30 percent in May. In South India, the demand for AC in Tamil Nadu has increased by 40-50 percent. An increase of 15-20 percent was recorded in Karnataka and Telangana.
In Eastern India, demand has increased by 25-30 percent in Odisha and 10-15 percent in Jharkhand. The demand for AC has increased since mid-April in Western India including Gujarat and Maharashtra. An increase of 15-20 percent has been recorded in these states. According to the report, local dealers of Uttar Pradesh and Tezzbuzz say that due to the continuously increasing temperatures, the supply from the manufacturing companies is decreasing compared to the increase in demand for ACs. Due to this, the time taken for delivery of AC has increased.
Delivery time increased due to less supply
Due to insufficient supply in Odisha and Jharkhand, local dealers are not able to deliver on time. Various companies in Gujarat have increased the prices of AC by 3-5 percent.
