JK Tyre cuts prices on all categories by 2 pct


MUMBAI, Feb 29 (Reuters) - JK Tyre & Industries Ltd said on Friday it has decided to cut tyre prices by two percent across all categories. This decrease was consequent to the reduction in CENVAT (central value-added tax) duty on tyres, tubes, flaps as announced in the federal budget for 2008/09 earlier in the day, it said in a statement. The reduction would be effective from March 1, it added. Finance Minister P. Chidambaram proposed a cut in general CENVAT rate on all goods to 14 ...

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