New Delhi: In a move to pass on GST or goods and services tax benefits, the country's top automakers Maruti Suzuki India and Tata Motors' Jaguar Land Rover have slashed prices by 3 per cent and 7 per cent respectively. Maruti has cut prices of its models by up to 3 per cent with immediate effect. "The ex-showroom prices of Maruti Suzuki models have come down by up to 3 per cent. The rate of reduction varies across locations depending on VAT rates applicable prior to GST," it said.
However, Maruti has increased prices of diesel variants of Ciaz and Ertiga models with smart hybrid technology by over Rs 1 lakh because of withdrawal of tax concessions on mild hybrid vehicles under the GST framework. The hike on the models will vary from state to state.
The Jaguar portfolio in India includes XE with a starting price of Rs 34.64 lakh, XF starting at Rs 44.89 lakh, F-PACE Rs 67.37 lakh onward and XJ with a starting point of Rs 97.39 lakh (ex-showroom prices across India).
On the other hand, the Land Rover range includes the Discovery Sport starting at Rs 40.04 lakh, Range Rover Evoque at Rs 42.37 lakh upward, Range Rover Sport beginning at Rs 89.44 lakh and Range Rover with a starting price point of Rs 1.59 crore (ex-showroom in India).
Luxury cars and SUVs with engine capacity of over 1,500 cc are slated to attract a 15 per cent cess over and above peak rate of 28 per cent under GST, thereby bringing down the overall tax incidence compared to around 50 per cent under the previous taxation system.