Tata Motors, one of the key automobile manufacturer in India has announced its plan to pass on the GST benefits to its customers. This time around, Tata Motors had announced a price reduction across models by up 12 per cent, thereby reducing prices anywhere between Rs 3,300 to Rs 2.17 lakh. The new revised prices have also been reportedly revised based on the tax rates which have been applicable prior to GST.
Speaking about the reduction in prices, Mayank Pareekh, said Tata Motors President, Passenger Vehicles Business Unit, said, “We wholeheartedly welcome the initiative by the Union Government for introducing GST thereby bringing in one uniform tax across the country. This will enhance the ease of doing business and usher in a new era for the economy in general and especially, for the automotive industry."
The fresh revision in prices is expected to help Tata Motors further strengthen its foothold in the Indian market. Owing to uncertainly over GST pricing, the Indian automaker witnessed a 5 per cent drop in year-on-year growth. Tata Motors owned premium brand Jaguar Land Rover has also passed on the GST benefits to its customers.
