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GST Effect: Maruti Suzuki Vehicle Prices Decreased
Maruti Suzuki has announced a price cut by up to 3 percent on most of its models; will pass on benefits to customers.
Maruti Suzuki India Ltd. (MSIL), India's largest carmaker, has announced price cut by up to 3 percent based on the new GST taxation system and will be passing on the benefits to customers.
The ex-showroom prices of Maruti cars have fallen down by up to 3 percent, post the implementation of new tax rates and cess under GST. "The rate of reduction varies across locations depending on the VAT rates applicable prior to GST", the company said.
Kenichi Ayukawa, MD & CEO, Maruti Suzuki, said, "Government of India and all policymakers deserve a big congratulation on the successful introduction of GST. This is a truly epoch-making reform. While GST will directly improve efficiencies and ease of business, its significance goes much beyond that."
He added, "It is a powerful example of India's commitment to reform, and how all stakeholders can come together to resolve complex issues in the interest of growth and development of the country."
Also, the company stated that due to the withdrawal of tax concessions on hybrid vehicles, the price of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel has increased.
The new prices under GST of Maruti cars are effective from July 1, 2017.
DriveSpark Thinks!
Maruti Suzuki has passed on the benefits of the GST to customers, and that's a good initiative by the country's largest carmaker. Hope other carmakers in India follow the similar strategy to benefit both the manufacturers and the customers.
Also Read:
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Maruti Suzuki Alto Prices Drop After GST
Honda Activa Prices Drop Post GST
KTM Motorcycles Prices Increase After GST
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