New Delhi, Sep 6
Joining other automakers in reducing prices, Mahindra & Mahindra Ltd (M&M) on Saturday announced to fully pass on the GST 2.0 benefits to customers across its ICE SUV portfolio -- up to Rs 1.56 lakh -- with an immediate effect.
While Toyota Glanza will see price cuts up to Rs 85,300, Taisor will see price reduction up to Rs 1,11,100; Hyryder up to Rs 65,400; and Fortuner up to Rs 3,49,000.
Under the new GST 2.0 framework, all internal combustion engine (ICE) cars are now taxed at either 18 per cent or 40 per cent.
For electric vehicles, the GST rate remains unchanged at 5 per cent, while hydrogen fuel cell vehicles (FCEVs) have seen a reduction from 12 per cent to 5 per cent.