GST Impact on auto sectors: Maruti Suzuki cars get cheaper by up to 3 per cent
New Delhi : Maruti Suzuki has passed on all its benefits from GST to the consumers by announcing a price cut of up to 3 per cent across its different segments of cars in Indian market.
The company released an official statement: "Maruti Suzuki India Limited has passed on the entire benefit of GST rates on vehicles to its customers. The ex-showroom prices of Maruti Suzuki models have come down by upto 3%. The rate of reduction varies across locations depending on the VAT rates applicable prior to GST."
On one hand petrol, diesel cars have registered a drop in price and on the other hand hybrid cars have become costlier.
Maruti said, "Owing to withdrawal of tax concessions on mild hybrid vehicles, the price of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel has increased."
Maruti Suzuki is scheduled to reveal the new prices by Monday (June 3).