The impact of GST for Car buyers is positive. Car Buyers are the most enthusiastic supporter of GST because reason is that Indian automakers immediately cut down the prices after the GST.
We know that GST in India applied from 1st July 2017. It is the good move by the Indian government. If you want to buy a new car, you should go for it. After GST, car prices are drop down.
GST impact: Maruti Suzuki, Hero MotoCorp drop prices
Many automakers companies cut down their car prices like Maruti Suzuki and Hero Moto-Corp and many other companies. First to drop prices companies are Maruti Suzuki and Hero Moto Corp from 1st July. After that Hyundai Motor India, Tata Motors, and Ford India will cut their prices in next few days. So it’s good news for car lovers that GST will impact positively on Car Prices.
Director and senior vice-president for marketing and sales of Toyota Kirloskar Motor Said that we hope that the price decrease after GST will further boost customer demand in coming months.”The GST will be fruitful for the growth of the auto industry. The industry will break into double-digit growth territory this year”
The Maruti Suzuki cut down prices by Rs. 2,300 to Rs. 23,400 per unit. The prices cut down by Toyota’ Indian Unit are 10,500 to Rs. 217,000 per unit. And Hero MotoCorp’s prices are cut down by 400 to 4,000. So its big cut down their prices by car companies.
Maruti official Said that prices have been revised such that the entire benefit of GST rates is passed on to customers. This company has reduced ex-showroom prices by up to 3%. The reduction in rate varies across as according to locations. It totally depends on the VAT rates applicable prior to GST.
Hero MotoCorp said that the company is passing on the benefit of GST to its customers with a reduction in the prices of models.