The country’s renowned two-wheeler manufacturer is peeved with the state government for its alleged failure to refund valued added tax (VAT) amounting to Rs1,100 crore to the company.
The country’s renowned two-wheeler manufacturer, Bajaj Auto Limited (BAL), is peeved with the state government for its alleged failure to refund valued added tax (VAT) amounting to Rs1,100 crore to the company.
Managing director of BAL, Rajiv Bajaj, expressed deep dissatisfaction over the state government policies when speaking to media persons at BAL’s Akurdi plant after the company’s annual general meeting.
Said Kevin D’sa, president (finance) at BAL, “The company is awaiting the refund for the last 15 months. We had already completed all formalities and submitted documents to the government. Yet, there is no response from the government so far.”
Reminding that BAL is one of the oldest industrial units in the country, Bajaj said it would be difficult for the company to operate in the state due to non-cooperation from the government. BAL officials said as per the government norms, the refund should be cleared within 20 days.
Bajaj also expressed unwillingness to expand its new plants in the state for producing four-wheelers due the lack of support of the state government and due to heavy taxation. BAL will be launching its four-wheeler in January next year at the Auto Expo in New Delhi.
Speaking about BAL’s four-wheeler project, Bajaj said, “In 2007 we entered into an alliance with Renault-Nissan for the launch of a four-wheeler like Nano, but in 2009 we thought it was not viable and so we reoriented the project.’’
Bajaj said, “We want to tap the overseas market for a new attractive and affordable four-wheeler. The four-wheeler will possibly have to be manufactured at the Aurangabad plant.’’
The Aurangabad plant will be used to manufacture the four-wheeler.
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