Excise Duty Cut Urged For Indian Tyres

In India, Parliamentary committee has urged the Government to reduce the amount of excise duty levied on tyres sold into the replacement market, from 24 per cent to 16 per cent. This follows a recent reduction from 32 per cent to 24 per cent. Such a reduction would save a single truck operator Rs 18,000 (361.

8 Euro) a year in excise duty, says the committee. The Indian tyre industry contributes Rs 3,500 crore (703.5 million Euro) a year in taxes, the report adds.