India, Sept. 12 -- Indian tyre maker to pass full benefit of tax cuts to customers from 22 September
CEAT Limited said on Thursday it would reduce prices across its entire tyre range following the Indian government's decision to cut goods and services tax (GST) rates on tyres, with the full benefit being passed on to customers.
The Mumbai-based tyre manufacturer said new prices would take effect from 22 September, covering commercial, agricultural, passenger vehicle and two-wheeler segments.
India's 56th GST Council meeting approved significant reductions in tax rates for the tyre industry. GST on new pneumatic tyres was cut to 18% from 28%, whilst tractor tyres and tubes will attract a reduced rate of 5%.
"We thank the Government of I...