The Centre’s proposed reduction in GST is also expected to lead to a drop in costs for car buyers, reducing on-road prices as well as EMIs.
There are indications that GST for many models of cars will reduce from 28% to 18%, but cess varies based on factors like the length of the car, category and engine size. So, how much can you expect to save if the proposal is passed and the changes come into effect?
Data from brokerage firm Nomura on some popular models shows that the on-road price of a Maruti Suzuki Wagon R is expected to drop by approximately Rs 60,000, Maruti Suzuki Baleno by approximately Rs 75,000, Hyundai Creta by Rs 55,000 and the Mahindra XUV700 by Rs 1.15 lakh.
#GSTSlabs #GST #EMI
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