Maruti Suzuki GST Price Cut:
India's leading car manufacturer, Maruti Suzuki, has announced substantial price drops across its range. The company has declared that the prices for popular models, including the Maruti Wagon R, Alto, and Ignis, have been reduced by approximately INR 1.29 lakh. These new prices will be effective from September 22.
In an official statement, Maruti Suzuki stated that the recent Goods and Services Tax (GST) reforms' benefits will directly reach the consumers. Accordingly, the company has announced a price reduction across its model lineup. Let’s see how much the prices have been slashed.
Source: aajtak
Partho Banerjee, Senior Executive Officer, Marketing and Sales at Maruti Suzuki India Limited, shared during a press conference that the price cuts are part of the recent GST reforms, maintaining the same features and technology in the vehicles.
With these new price updates, the Maruti S-Presso has taken the spot as the company’s most affordable car, surpassing the Alto K10, with a significant INR 1,29,600 price cut. The ex-showroom pricing here speaks volumes about the savings.
Source: aajtak
Maruti Suzuki has also slashed the price of its famed Swift by INR 84,600, bringing the new starting price to just INR 5.79 lakh. Recently, the third generation of Swift was launched at INR 6.49 lakh.
Additionally, the Baleno's price has been reduced by INR 86,100, now starting at just INR 5.99 lakh. In line with recent launches, the Maruti Dzire, the company’s first 5-star safety-rated car, has seen a price deduction of up to INR 87,700, now available from INR 6.26 lakh.
Heavy cuts have also been made to the prices of Maruti’s SUV and MPV ranges. The Fronx SUV is now cheaper by INR 1,12,600, with a new entry price of INR 6.85 lakh. The Brezza's price is reduced by INR 1,12,700, now starting at INR 8.26 lakh.
Source: aajtak
For MPVs, the Maruti Ertiga has seen a price decrease of INR 46,400, starting now at INR 8.80 lakh. Buyers of the XL6 can save up to INR 52,000, introducing SUV-styled MPV at INR 11.52 lakh. Furthermore, in the van segment, the Maruti Eeco’s price has dropped by INR 68,000 to a starting price of just INR 5.18 lakh.
The GST Council's decision on September 4 resulted in consolidating the slabs to only two: 5% and 18%. Additionally, luxury and sin goods will face a 40% GST. Under this new structure, petrol cars with an engine capacity of up to 1,200 cc and diesel cars up to 1,500 cc, measuring less than 4,000 mm in length, will attract only 18% GST, a significant reduction from the previous 28%.
Larger and luxury cars over 4 meters will now fall under the 40% GST bracket. Luxury vehicle prices have been heavily slashed since they previously attracted a 28% GST and approximately a 22% cess, amounting to a 50% tax overall. No additional cess or surcharge is now levied.
