Tyre Makers Seek Cut In Duties

The domestic tyre industry has asked government to treat tyres as a final product since the commodity was the end product, did not require further changes and was sold at the retail level.

The industry has also urged the Centre to reduce excise duty on all categories of tyres, tubes and flaps to 16 per cent from the current rate of 32 per cent. It has asked for 8 per cent duty on animal driven vehicle tyres which enjoy zero duty at present.

In its pre-budget memorandum, Raghupati Singhania, chairman of the Automotive Tyre Manufacturers Association (ATMA), asked the government to waive customs duty on steel and polyester tyre cord for a period of 1-2 years till domestic production begins.