Rajiv Bajaj, the Managing Director of Bajaj Auto, has called for a reevaluation of GST rates for commuter motorcycles, citing excessive regulation and high taxation as factors contributing to increased prices. Speaking at the launch event of a new 400cc Pulsar motorcycle, Bajaj highlighted the need for a reduction in the current GST rate of 28% to 18%.
Bajaj emphasized that the recovery of two-wheeler volumes to pre-COVID-19 levels has been sluggish. He pointed out that ASEAN countries typically impose GST rates ranging from 8% to 14%, suggesting that the Indian government should align its tax policies accordingly.
While acknowledging the importance of stringent emissions regulations, Bajaj underscored the need for a more balanced approach, urging the government to reconsider the GST rate for commuter motorcycles.
At the launch event, Bajaj Auto introduced its latest addition to the Pulsar lineup, the Pulsar NS400Z, priced at an introductory rate of Rs 1.85 lakh. Bajaj Auto has achieved significant success with the Pulsar brand, having sold 18 million units since its inception in 2001, generating Rs 10,000 crore in revenue.
In the recent financial quarter ending in March, Bajaj Auto reported robust performance, with a 35% year-on-year increase in net profit, reaching Rs 1,936 crore. Revenue from operations also saw a substantial growth of 29% year-on-year, totaling Rs 11,485 crore for the quarter.
