Tyre industry asks for lower excise duty

The industry sought cut in excise to 16% from existing 24% besides fixing duty on steel truck and bus radial tyres at 8%.

The tyre industry on Thursday sought reduction of excise duties on tyres to 16 per cent from the present 24 per cent besides fixing excise duty on all steel truck and bus radial tyres at eight per cent in a wishlist presented to the Government of India and the Finance Minister.

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The wish list also suggested a speedy reduction in customs duty on raw materials and intermediates from 20 per cent to 10 per cent besides waiver or reduction in customs duty on butyl rubber and polyester tyre cord.