Apollo lowering tire prices following tax cuts

Gurugram, India – Apollo Tyres Ltd is cutting prices across its product range in India after the government reduced goods and services tax (GST) rates for the sector.

The move follows the 56th GST Council meeting, which lowered GST on new pneumatic tires from 28% to 18%, and on tractor tires and tubes to 5%.

Welcoming the decision, to take effect from 22 Sept, Apollo said it would pass on “the full benefit” of the tax cut to customers.

“In keeping with our commitment to transparency and customer value, we are transferring all tax benefits to our consumers,” Rajesh Dahiya, Apollo's VP commercial, India, SAARC and southeast Asia.

The company added that the changes will apply to passenger car, commercial vehicle, agricultural and two-wheeler tires.

Apollo said it was working with its distribution network to implement the new pricing structure nationwide.