New Delhi [India], September 6 (ANI): Though the revised tax slabs under the new Goods and Services Tax (GST) regime are officially set to take effect from September 22, automotive giant Mahindra & Mahindra has decided to get a head start.
Mahindra Group Chairman Anand Mahindra, in a post on social media platform X, announced that the company will offer revised discounts in line with the upcoming GST rates, giving customers the benefit well ahead of schedule, beginning today.
In the post, Mahindra added, “Action. Not just promises. Thank you, Team @Mahindra_Auto,” with an attached image that mentions, “Everyone said 22nd Sept, we said NOW. AVAIL GST BENEFITS STARTING 6th SEPT. GET UPTO RS 1.56 LAKH.”
According to the automaker, ICE (Internal Combustion Engine) models like the XUV3XO (Diesel) see the most substantial savings, with a benefit of up to Rs 1.56 lakh, as the GST rate drops from 31 per cent to 18 per cent.
Similarly, the XUV3XO (Petrol) and THAR 2WD (Diesel) receive benefits of up to Rs 1.40 lakh and Rs 1.35 lakh, respectively. Other popular models, such as the Bolero/Neo and Scorpio Classic, also enjoy GST reductions, resulting in savings of Rs 1.27 lakh and Rs 1.01 lakh, respectively.
Larger SUVs like the Scorpio-N, Thar Roxx, and XUV700, which previously attracted a higher tax rate of 48 per cent, now fall under the reduced slab of 40 per cent, offering benefits of up to Rs 1.45 lakh, Rs 1.33 lakh, and Rs 1.43 lakh, respectively.
Reacting to the restructuring of indirect tax slabs, Mahindra praised the government’s move, highlighting the continuation of the 5 per cent GST rate on electric vehicles (EVs) as a vital step in advancing India’s clean mobility mission.
The automobile sector, one of the largest contributors to the Indian economy, will also benefit from the reforms. Petrol and petrol hybrid cars, along with LPG and CNG variants not exceeding 1200 cc and 4000 mm in length, will now be taxed at 18 per cent instead of 28 per cent.
Diesel and diesel hybrid cars of up to 1500 cc and 4000 mm will see the same reduction. Three-wheeled vehicles, motorcycles with an engine capacity of up to 350 cc, and motor vehicles used for goods transport will also see their GST rates reduced from 28 per cent to 18 per cent.
In its analysis, Crisil Intelligence highlighted that the revised GST slab to 18 per cent from 28 per cent will benefit the auto sector and boost domestic sales.
GST 2.0 will allow customers to purchase internal combustion engine (ICE) vehicles at lower rates, thereby improving affordability. Sellers are also likely to benefit from increased demand and stronger sales volumes.
At the same time, the government has retained the 5 per cent GST rate on electric vehicles (EVs), ensuring that cleaner mobility options remain attractive to buyers and aligned with India’s green goals.
The report highlighted that the prices of entry-level hatchbacks, such as the Wagon R, premium hatchbacks like the Swift, compact sedans including the Swift Dzire, and sub-compact SUVs, such as the Punch, are expected to fall by nearly 8.5 per cent.
Large sedans, such as Virtus, compact SUVs like Brezza, mid-SUVs like Creta, and MPVs like Ertiga, are projected to be cheaper by about 3.5 per cent. Meanwhile, premium SUVs, including the XUV 700 and MPVs with bigger engines like the Innova, may see a decline of about 6.7 per cent.
Two-wheelers are also set to become more affordable. Prices of most ICE two-wheelers will drop by nearly 7.8 per cent, though premium bikes with engines above 350 cc could become costlier by 6.9 per cent, the market intelligence firm added. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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