A recent amendment in GST slabs for automobiles brought increase in the overall values for mid size, luxury and SUV segments. As expected, the GST for sub 4 meter petrol and diesel cars with engine displacement less than 1.2L and 1.5L respectively was kept the same.
This equates to 29% (28+1) for small petrol cars and 31% for same segment diesel cars. This helps all cars like Baleno, i20 Elite, Dzire and Amaze retain their present price tags. Another sub 4 meter segment that comes with engines bigger than the above given limit also stays intact at 43% GST (28+15).
As notification regarding this matter arrived today, the changes are already applicable on all given segment. The plan for cess hike was initially 10% but came out to be 2%, 5% and 7% for these three segments. Apart from these, hybrid and electric cars retain their 43% and 12% of already fixed slab.
# Small Car (Petrol) – Less than 4 meter, engine displacement less than 1.2L, 29% GST
# Small Car (Diesel) – Less than 4 meter, engine displacement less than 1.5L, 31% GST
# Small Car – Less than 4 meter, engine displacement greater than 1.2L (petrol) and 1.5L (diesel), 43% GST
# Midsize Car – Greater than 4 meter, engine displacement not greater than 1.5L (petrol & diesel), 45% GST
# Large Car – Greater than 4 meter, engine displacement greater than 1.5L, 48% GST
# SUV – Greater than 4 meter, ground clearance over 170mm, 50% GST
Falling income of states is the biggest reason behind this tax hike while it is even believed that affordability percentage of buyers in this segment is higher than any other existing segment. Brands actually plan their products according to government regulation as it’s hard to find a car with less than 4 meters of length and a bigger engine than 1.2L petrol and 1.5L diesel limit, saving the 43% rate to just 31% in most cases (as done with Maruti Dzire few years ago). Still, the suffering rises when they have a full fledged festive season in front after such a huge tax rise.
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