India, Aug. 25 -- India's Automotive Tyre Manufacturers Association (ATMA) has urged the government to lower the goods and services tax (GST) rate on tyres from the current 28 percent slab, stating that such a move would reduce vehicle operating costs and lower logistics expenses across the economy.
In a communication to Finance Minister Nirmala Sitharaman, the industry body stated that tyres, which are taxed at the highest GST rate, should not be treated as luxury goods, given their critical role in supporting transportation, agriculture, and infrastructure. By contrast, tractor tyres attract 18 percent GST and aircraft tyres five percent.
"Tyres are indispensable to the movement of people and goods across India. Given their essential r...