Mahindra announces new SUV prices after GST rate cut, added benefits. Check full list
Here is a look at revised ex-showroom prices of Mahindra SUVs, including the Bolero, Scorpio Classic, Scorpio N, Thar, Thar Roxx, XUV 3XO and XUV 7OO.
Mahindra & Mahindra Ltd. has sweetened the deal that is its ICE SUVs, with additional benefits of up to ₹1.29 lakh. In all, Mahindra SUVs are now cheaper by up to ₹2.56 lakh.
Here’s a look at the revised ex-showroom prices of Mahindra Bolero, Scorpio Classic, Scorpio N, Thar, Thar Roxx, XUV 3XO and XUV 7OO:
On 6 September, India’s largest SUV maker by revenue announced that it would pass on full benefit of GST rate cut to customers, effective immediately. That made the Bolero to XUV 7OO cheaper by ₹1.27 lakh to ₹1.43 lakh. The benefits announced today come on top of this.
These new prices are effective 22 September, when GST 2.0 comes into effect.
GST Rate On Cars
On 4 September, the GST Council led by Finance Minister Nirmala Sitharaman cut GST rates on hundreds of items—from soaps to small cars—in India’s biggest indirect tax reforms since the Goods and Services Tax first came into effect on 1 July 2017. That was due GST rationalisation into two tax slabs (5% and 18%) from four earlier—5%, 12%, 18% and 28%.
An additional tax slab of 40% was introduced for tobacco items and luxury goods, but the compensation cess has been completely done away with.
In the process, the GST Council also defined what a car is.
According to the government, “small cars” are less than 4 metres in length with petrol engines less than 1,200 cc and diesel engines less than 1,500 cc. Such cars will be taxed at 18%.
“Bigger cars” or “luxury cars” are more than 4 metres in length with petrol engines bigger than 1,200 cc and diesel engines bigger than 1,500 cc. Such cars will be taxed at 40%. That’s still less than what they were charged earlier under the compensation cess mechanism.
This definition extends to hybrid cars as well. Electric cars, like all electric vehicles, continue to attract the lowest 5% GST rate.
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Mahindra’s Bolero, Bolero Neo, XUV 3XO and Thar 2WD (Diesel) fall in the 18% tax bracket while the rest—Thar 4WD (Diesel), Scorpio Classic, Scorpio N, Thar Roxx and XUV 7OO—will attract 40% GST.
On Friday, M&M shares fell 1.33% to ₹3,592.60 apiece on the BSE even as the benchmark S&P BSE Sensex ended the day 0.47% lower at 82,626.23 points.
