GST Benefits – Jaguar Land Rover Gets Cheaper By Up to ₹10.9 Lakh

GST Bill 2018680 views

In order to pass on the benefits of the new Goods and Service Tax (GST) rates, which is to be rolled out in July , Tata Motors owned Jaguar Land Rover(JLR) on Tuesday has reduced the prices of select models by up to ₹10.9 lakh.  The company stated that the estimated price reduction post GST will be upto 12% and will vary from state to state on a model-wise basis. Well, if that comes into effect, the prices of JLR select models such as Jaguar XE sedan could reduce in the range of ₹2 lakh to ₹5.7 lakh while Jaguar XJ will see a price cut of ₹4 Lakh-₹10.9 Lakh. If we talk about the Land Rover models-Discovery Sport and Range Rover Evoque could see prices cuts in the range of ₹3.3 lakh to ₹7.5 lakh.These luxury cars are currently priced between ₹37.25 lakh to ₹1.02 crore (ex-showroom Delhi).

JLR India President and Managing Director Rohit Suri said.

Implementation of GST is a historical moment for India which will not only benefit consumers but is also expected to make the whole tax regime simpler and more transparent.

However, German luxury car makers – Mercedes India, Audi and BMW were the first to pass on the price cut benefits to the customers by slashing the rates on its models in India. In fact, the US Auto maker Ford is also the latest one to join the bandwagon as the company on Monday also announced discounts of up to ₹30,000 on its compact SUV EcoSport, sedan Aspire and hatchback Figo in India.

People Also Look For  How Will GST e-way Bill Impact You from April 1, 2018?

As per the new GST regime, large cars are expected to get cheaper due to lower tax incidence as compared to the existing system. The cars will attract a tax rate of 28% with a cess in the ranges between 1%-15% on SUVs and luxury cars, reaching to a total of 43%. If we talk about small cars having engine less than 1,200 cc will attract the cess of 1% while cars with an engine less than 1,500 cc will attract 3% cess. Whereas, large cars and SUVs with engine greater than 1,500 cc and with length more than 4 meters will attract 3% cess.

Currently, JLR produces 5 variants in India-three Jaguar name plates-XE,XF and XJ and the remaining two are of Land Rover name plates-Discovery Sport and Range Rover Evoque respectively.

Personal Loan Interest Rates November 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank12.00% - 17.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates November 2018
State Bank of India/SBI8.70% - 9.25%
HDFC8.80% - 9.60%
Bank of Baroda8.65% - 9.65%
LIC Housing8.70% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank8.95% - 9.20%
Axis Bank8.80% - 9.05%
Citibank8.90% - 9.65%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%