The onset of the new GST (or goods and services tax) regime has seen Maruti Suzuki lead the way to declare value cuts across most of its wide range of products. In a statement the organization has stated, “Maruti Suzuki India Limited has passed on the whole benefit of GST rates on vehicles to its clients. The ex-showroom costs of Maruti Suzuki models have come down by upto 3%. The rate of reduction varies across locations depending on the VAT rates applicable prior GST.”
Obviously the rate varies by state/area because of the differing levels of erstwhile local taxes, however they will likewise change based on the segment. Small cars under 4 meters long with petrol motors under 1.2 liter displacement will be less expensive by 2.5%. Comparative length autos with diesel motors below 1.5 liter displacements will see a 2.25% drop. While those bigger than the capped engine capacity, yet under 4 meters will be less expensive by 1.7%.
Cars or SUVs more than 4 meters will likewise be less expensive by 8.6% and 12 percent respectively. While electric cars will be less expensive by 7.5%. Hybrids though will be more costly by 13.3% and Maruti has likewise commented on this, saying, “Owing to withdrawal of tax concessions on mild hybrid vehicles, the cost of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel has increased.” We await the model and variant wise costs from Maruti Suzuki and different manufacturers. While most have shown that the new pries will only be completely available to us by Monday, July 3, Maruti guarantees to give the updated prices later today.