GST 2.0: Jaguar Land Rover cuts car prices by ₹30L
What's the story
Jaguar Land Rover (JLR), a Tata Group subsidiary, has announced a major price cut on its luxury SUVs. The company will pass on the full benefit of the recent Goods and Services Tax (GST) rate rationalization to its customers. The move will make models like the Range Rover, Defender, and Discovery more affordable in India.
Implementation date
Range Rover will be cheaper by ₹30.4 lakh
The price cuts on JLR models will come into effect from today. The Range Rover SUV brand will be cheaper by as much as ₹30.4 lakh, while the popular Defender SUV will see a price cut of up to ₹18.6 lakh. The Discovery SUV's price will also be reduced by up to ₹9.9 lakh, all based on ex-showroom prices of these models.
Industry trend
Other luxury car manufacturers also announce price cuts
Other luxury car manufacturers such as Mercedes-Benz India, BMW Group India, Audi India, and Volvo Car India have also announced similar price cuts on their vehicles. This comes after the GST rate rationalization. Previously, luxury cars were taxed at a 28% GST slab with an additional compensation cess of up to 22%, making the total tax burden as high as 50%. Now, luxury cars now fall under a 40% slab without any additional compensation cess.