Cut in excise duty leads to lower tyre prices in India

ERJ staff report (DS)

Gurgaon, Haryana, India -- Apollo Tyres Ltd and others said they would reduce tyre prices in India, following a reduction in government-imposed excise duty. The Indian Government cut excise duty on tyres and other consumer products, by 4 percent. Tyres attract the highest excise tax of 14 percent. This has now been reduced to 10 percent. Apollo said it will pass on the benefits of the reduced excise duty rates to its customers with retrospective effect from December 1, 2008. This reduction in prices will be applicable across all products in radial and cross ply tyres, across the segments of truck & bus, light truck, farm, industrial and passenger vehicle tyres.

Ceat, JK Tyres and others made similar announcements.

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Tyre firms cut prices on excise duty cut Reuters (India)

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