Amendment in GST
GST Council approved hike in cess for Luxury Cars
The GST Council, on Monday (7 August), has hiked cess rates on sports utility vehicles (SUVs), mid-sized, large and luxury cars to 25 per cent from previous 15 per cent.
Expressing his disappointment over the new amendment in the goods and services tax (GST) law, Roland Folger, MD & CEO, Mercedes-Benz India said, “We believe this will be a strong deterrent to the growth of luxury cars in this country.”
Roland Folger, MD & CEO, Mercedes-Benz India mentioned, in an official statement, “This will also affect our future plans of expansion under ‘Make in India’ initiative, which aims at making and selling world-class products in India, with the latest technology for end consumers. We feel deprived as the leading manufacturer of luxury cars in India, who has been championing ‘Make in India’.”
“This decision [...]
The GST Effect : Jaguar Land Rover
Jaguar Land Rover announced GST Benefits to customers
Jaguar Land Rover announced that it will pass on the Goods and Service Tax (GST) benefits to customers on its vehicles with immediate effect. The benefits are in the vicinity of ₹ 2 lakh and ₹ 10.9 lakh depending on the model in the Jaguar Land Rover line-up. With the new GST norms set to come into effect from 1st July 2017 onwards, the automaker said that the estimated price reduction post GST will be up to 12 per cent, and will vary from state-to-state and model to model basis.
Jaguar currently produces five models in India including the XE, XF and XJ sedans, while the Discovery Sport and Range Rover Evoque from Land Rover’s stable are locally assembled as well. As part of the price reduction from, the manufacturer will be passing on the [...]
The GST effects : Merc cuts prizes
Mercedes cuts prizes as more Brands to follow !
Luxury carmakers, hit by diesel ban in the National Capital Region and demonetisation in recent times, are treading cautiously in the run-up to the Goods and Services Tax (GST).
Buyers of top car brands can look forward to 4-6% mark downs or price reductions to the tune of Rs 1.5 lakh-Rs 7 lakh for models assembled in India.
Mercedes-Benz India has announced that the transactional price of its entire locally assembled model range will decrease by 4%
Price reduction will, however, vary from state to state between 2% and 9%
Others like Jaguar-Land Rover have announced a price reduction on three of its models
The price revision on a weighted average of 4% will be effective immediately, and is aimed at providing value to a customer’s purchase decision before GST [...]
Jaguar Land Rover, Britain’s biggest carmarker said it wants to build electric cars in Britain in what would be a further boost to the U.K. automotive sector after the Brexit vote. The I‑PACE Concept represents a pioneering future in electric vehicles.
A true Jaguar, I‑PACE Concept accesses its power in a range of driving environments too. With All Wheel Drive stability and sports car agility, I‑PACE Concept inspires confident driving on all road surfaces and in all weather conditions.
The Indian-owned carmaker built just under a third of Britain’s 1.6 million cars last year and showcased its first electric car earlier this month, which will be built in Austria.
But Chief Executive Ralf Speth suggested that the Indian-owned automaker, which operates three car [...]
