Car Tyres

Automotive Tyre Manufacturers Association on Monday sought a reduction of GST rates on tyres for automobiles to 5 per cent from the current 28 per cent, while asking the government not to treat it on par with luxury goods, citing its cost impact on key sectors such as transportation, agriculture, mining, and construction. At present, all major categories of automotive tyres attract GST at 28 per cent, the highest tax slab, whereas tractor tyres and aircraft tyres are taxed at 18 per cent and 5 per cent respectively, Automotive Tyre Manufacturers Association (ATMA) said in a statement. In sectors such as transportation, agriculture, mining, and construction, where tyres form a significant component of operating expenditure, a lower GST rate of 5 per cent would provide meaningful relief to small traders, farmers and enterprises that rely on affordable transportation. The tyre makers' body further said lowering of GST on automotive tyres would directly reduce vehicle operating costs an

The company is collaborating with research institutions to develop innovative, bio-based materials for tyre production

The northward move in CEAT share price came after it announced that it has acquired Camso brand's Off-Highway construction equipment bias tyre and tracks business from Michelin for $225 million

Crude prices, which hovered around $88 to 90 over the past three months, represent a 6 to 8 per cent increase from the previous quarter, adding further strain on manufacturers' margins

Conventional car tyres are viewed as environmentally unfriendly as they are predominately made from fossil fuels