GST Impact: Tata Motors Cuts Prices Of Commercial Vehicles By Up To 8%
After passenger vehicles, now it’s the turn of Tata Motors’ commercial vehicles.
India’s largest automobile company Tata Motors Ltd. on Thursday revised prices for its commercial vehicles, to pass on the benefit of Goods and Services Tax (GST) rates to its customers.
The ex-showroom price of cargos have been reduced in the range of 0.3 percent to 4.21 percent, while for passenger transportation the price has been reduced in the range of 0.6 percent to 8.2 percent, the company said in a media statement.
“This will bring about significant gains to the country's economy and advantages for the stakeholders while enhancing the ease of doing business”, said Girish Wagh, Head of Commercial Vehicle Business Unit, Tata Motors.
On Wednesday, the company slashed prices of its passenger vehicles up to 12 percent, between Rs 3,300 and Rs 2.17 lakh depending on the model and variant, it said in a statement.
Under the GST regime, most vehicles will be taxed at 28 percent, with an additional cess of 1 percent, 3 percent, or 15 percent, based on their categories.
Mahindra & Mahindra Ltd. (M&M Ltd.) earlier this week slashed the prices of its light commercial vehicles and heavy commercial vehicles by an average 1.1 percent and 0.5 percent respectively.