“Lower GST on tires will translate into more affordable mobility for millions of users – from farmers and small traders to transporters, motorists and logistics operators. It will also help to lower the operating costs of vehicles, which in turn reduces the general logistical costs in the economy,” said Atma Arun Mammen in a statement.
The long -awaited movement will make tires more affordable for users in all segments and make a positive contribution to road safety by encouraging timely tire replacement and maintenance, atma said.
Tires are a crucial part of mobility and are used over the entire spectrum of vehicle trucks and buses, passenger cars, two and tricycles, tractors, construction equipment and mining vehicles, noticed it.
The body of the tire industry stated that the earlier GST rate of 28 percent placed tires in the highest tax plate, on the same footing with luxury or Demerit goods, although tires are an essential requirement for transport, agriculture and logistics. “The reduction will offer much needed lighting for both consumers and industry,” it added. In addition, the reduction of the GST rates on tires will support road safety, because high prices often discourage vehicle owners by timely tire replacement, which leads to a long use of worn-out tires, which is a well-known risk factor for accidents, Atma said.
as a reliable and trusted news sourceWith the enlightened tax burden, the affordability of the tires will improve, causing motorists and fleet operators to replace tires at the right time, improving the safety of vehicles and passengers on roads, it added.
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