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The Goods and Service Tax regime is going to be implemented in the month of July 2017, but its effects have already been started coming out. To pass on the benefits under new tax regime, the giant automobile manufacturer Ford India is offering discounts of up to Rs 30,000 on its hatchback Figo, sedan Aspire, and compact SUV EcoSport.
Under the new discount offers, the EcoSport along with a price cut-off in the range of Rs 20,000 to Rs 30,000 will be available with a price tag between Rs 7.18 lakh and Rs 10.76 lakh (ex-showroom Delhi), Whereas, the Figo and Aspire along with a price cut in the range of Rs 10,000 to Rs 25,000 will be available priced at Rs 4.75 lakh to Rs 7.73 lakh and between Rs 5.44 lakh to Rs 8.28 lakh (all prices ex-showroom Delhi) respectively.
On this, Ford India Vice President Sales Vinay Raina told PTI, “We are happy to pass on (to customers) the expected benefits of GST ahead of its actual implementation.” Moreover, last week, the leading German luxury carmaker Audi also slashed out the prices of its models in the country by up to Rs 10 lakh till June 30. The models of the company available in India includes all the cars ranging from A3 sedan to A8 premium sedan, which is currently available with a price tag between Rs 30.5 lakh and Rs 1.15 crore.
Apart from it, the gigantic German automaker BMW also announced to offer benefits of up to 12 percent on ex-showroom prices, which include GST benefits depending upon the model. Additional benefits by the company include a reduced rate of interest of 7.9 per cent, complimentary service and maintenance for three years and one-year complimentary insurance.
Interestingly, the premium car manufacturing firm Mercedes-Benz has also announced a price cut off on its models available in India by up to Rs 7 lakh to pass on the benefits of the upcoming tax regime in July 2017. The models produced locally by the company include CLA sedan, SUVs GLA, GLC, GLE and GLS, luxury sedans C-Class, E- Class, S -Class and Maybach S 500, which comes with a price tag in the range between Rs 32 lakh and Rs 1.87 crore (ex-showroom Delhi). The price cut ranges from Rs 1.4 lakh on the CLA sedan to Rs 7 lakh on Maybach S 500 model.
Large and premium cars are expected to become a bit cheaper than the current rates due to lower tax incidence under GST. After the implementation of new tax regime, cars will get the top rate of 28 percent along with a cess in the range of 1 to 15 percent, in which small petrol cars with engine less than 1,200 cc will get 1 per cent cess, small diesel engine cars less than 1,500 cc will get 3 per cent cess and Large cars with engine greater than 1,500 cc will get cess of 15 percent.
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