CEAT to Cut Tyre Prices After GST Reduction

CEAT Ltd. on Friday said it will reduce prices across its entire portfolio to fully pass on the benefit of lower goods and services tax to customers.

Earlier this month, the GST Council cut the tax on new pneumatic tyres to 18% from 28%, and on tractor tyres and tubes to 5% from 18%. The revised prices will take effect from September 22, the company said in a press release.