Dealers seek abolition of CVD on import of radial tyres
Dealers seek abolition of CVD on import of radial tyres
PTI
New Delhi: Contrary to the demands of tyre manufacturers, All India Tyres Dealers Federation (AITDF) have demanded the abolition of the 16% countervailing duty (CVD) on import of truck/bus radial tyres in the country.
“The large import of truck/bus radial tyres would help the industry in reducing the transportation cost as radial tyres help in increasing the fuel efficiency by 5-7% and are more safety oriented" AITDF said in a release.
The abolition of CVD on tyres would also help in checking the inflation as tyres constitute 35% of operational cost of a truck operator.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!