Car Price After GST: The central government has reduced the GST imposed on vehicles. After which, the government has approved the new GST slab. This will affect the prices of all types of vehicles, from small to large. After which, their prices will come down significantly. Let us tell you that the new GST rates will come into effect from September 22. In such a situation, let us know how much will be the prices of many vehicles, including Tiago, WagonR, Creta, and Punch after the reduction of GST. Many people want to know how much the reduction in the prices of big vehicles like Fortuner, Innova, and XUV700 is. In such a situation, we know how much will be the prices of these vehicles.
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How much will the price of big vehicles?
Let us tell you that with the implementation of GST rates, midsize, compact, and big vehicles will be available at affordable prices. Earlier, GST was levied on SUV vehicles at the rate of 28 percent; along with this, a cess of 15 to 22 percent was also levied. Now, under the new GST rules, only 40% GST will be levied on SUVs; along with this, the cess has been completely reduced. With the implementation of new GST rates, the prices of compact and midsize SUVs can come down by 3% to 10%.
How much will the prices of compact SUVs come down?
Let us tell you that earlier, 28% GST and 22% cess were levied on SUVs like the Hyundai Creta, Maruti Grand Vitara, and the Skoda Kushak. After which, about 40% tax will be cut, and the prices will come down by 10%. The Hyundai Creta petrol can be cheaper by 75000 to 1,39 lakhs. At the same time, the diesel car can be cheaper by 84 thousand to 1.39 lakh rupees. The price of the Maruti Grand Vitara petrol can be cheaper by 76 thousand to 1.30 lakhs. With this, the prices of Skoda Kushak can be cheaper by 74 thousand to 1.27 lakhs.
How much will hybrid vehicles become cheaper?
Let us tell you that earlier, 43% tax was levied on Grand Vitara Hybrid and Honda City Hybrid, but after the new GST rules, now only 40% GST will be levied, on which cess will become zero. The prices of all these vehicles will come down. There will be a discount of 36 thousand to 52 thousand rupees on the Grand Vitara Hybrid. Up to 42 thousand rupees discount can be obtained on the Honda City Hybrid.
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How much will the Fortuner become cheaper?
On the other hand, vehicles like the Toyota Fortuner, the Mahindra SUV700, and the Innova Crysta used to be taxed up to 50% earlier. But now, after the new rates are implemented, GST will be up to 40%. The price of the Toyota Fortuner Diesel can be reduced by 2.45 lakh to 3.49 lakh. Its starting price can come down from 36.73 lakh to 34.28 lakh.