Maruti Suzuki India on 1 July announced Goods and Services Tax (GST) benefits on the ex-showroom prices of their models by offering upto three percent cut on its vehicles segment.
The automobile manufacturer rolled out the rate of reduction in various segments across locations depending on the Value-added Tax (VAT) rates applicable prior to GST.
Owing to withdrawal of tax concessions, the mild hybrid vehicles will now cost a little higher. The prices of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel are likely to increase amid these offers.
The new prices are effective from 1 July 2017.
In a historic moment on 30 June's midnight, the Indian economy witnessed its much-awaited GST in the presence of President Pranab Mukherjee, Vice President Hamid Ansari, Prime Minister Narendra Modi, Lok Sabha Speaker Sumitra Mahajan and Union Finance Minister Arun Jaitley, among other dignitaries.
Ending more than 11 years of hectic argument among the Centre and the states, the GST gets implemented from 1 July to completely transform the indirect taxation landscape in the country involving both the central and state levies.