India, Sept. 5 -- The GST Council's 56th meeting delivered major relief for India's tyre industry, slashing rates on new pneumatic tyres to tractor tyres. The move, aimed at reducing input costs and supporting rural demand, has been welcomed by manufacturers, though retreaders caution the reforms risk sidelining sustainability.
Sharad Matade and Gaurav Nandi
The Goods and Services Tax (GST) Council, in its 56th meeting, lowered the GST rates on a range of tyre and rubber products on Thursday, in a move aimed at easing input costs for the farming community and providing a much-needed relief to the domestic tyre manufacturing sector.
The decision, taken by the GST Council, reflects the government's strategy of supporting rural demand whi...