CEAT cuts tyre prices across segments to pass GST benefits

New Delhi: Indian tyre company CEAT Limited on Friday announced price reduction across its entire range of tyres to pass on the benefits of the recent Goods and Services Tax (GST) reforms. The company will pass on 100 per cent of the GST benefits to their channel and customers, a release from the company said. The reduced prices, reflecting the new GST rates, will be applicable to all CEAT products effective from September 22. The GST on new pneumatic tyres has been reduced to 18 per cent from 28 per cent, while tractor tyres and tubes will attract a reduced GST rate of five per cent. Arnab Banerjee, Managing Director and CEO, CEAT Limited, called the GST rationalisation a timely and progressive decision.