Nissan cars that have witnessed a price cut up to 3% include Micra, Micra Active, Terrano and Sunny.
Major beneficiaries of the new taxation system are the above 4-metre cars and SUVs.
GST (Goods and Services Tax) took the country by storm, especially the automobile industry. Most of the carmakers have already announced post GST prices of their model lineup. Following suit, Nissan Motor India has also passed on the GST benefits to its customers. The car models that have witnessed a price cut up to 3% include Nissan Micra, Micra Active, Terrano and Sunny.
Nissan India – Managing Director, Arun Malhotra said, “The implementation of the GST is a positive move for both automobile manufacturers and customers. We are happy to pass on the benefits to our customers for a more attractive value proposition.”
Under the new tax structure, the total tax rate on the sub-4 metre hatchbacks, sedans and SUVs (powered with less than 1.2-litre petrol engine) is 29% instead of 31.5%. It includes 28% GST slab and an additional 1% cess. Similarly, the sub-4 metre cars with less than 1.5-litre diesel engine have a tax of 31% (28% GST + 3% cess). The sub-4 metre cars above 1.2-litre petrol and 1.5-litre diesel powertrains are charged with 43% of GST tax (28% GST + 15% cess). Read – Honda Cars Gets Cheaper
Major beneficiaries of the new taxation system are the above 4-metre cars and SUVs. While the large luxury vehicles (over 4-metre) have a total tax of 43% (instead of 51.6%), the SUVs are now bound to pay 43% tax (instead of 55%). However, the hybrid cars have become more expensive after the GST implementation. As per the previous tax system, this segment was charged at a rate of 30.3%. Post GST, it has been increased by 13.3% – rated at 43%. The new tax norms have also increased the insurance prices from 15% to 18%.