After the passing of GST bill, there is a huge jump in the price of automobiles as all the goods and service tax is demolished. The cost of small cars such as Alto, Swift, Dzire etc. have a fall of about minimum Rs.6, 500 up to Rs. 15,000.
Midsized cars will be a lot cheaper as compared to the small cars as they will have their price reduced to 3.6% and the sedans will have their price reduced to a minimum of Rs. 30,000.
But the ones getting really lucky are the customers of luxury cars as their price would cut off about 1.25 Lakh to 7 Lakh as their price is coming down by 8.8%.
As the GST is incorporating the five taxes and levies i.e. excise, NCCD, infra cess, CST, and VAT. Hence, the price is drastically lowering.
However, the road tax, registration cost, insurance, and other bills have to be paid and this will affect the on-road price of the vehicle and this will lead to the different price of vehicles in different states.
Talking about the reduction in the price of the two wheelers, it will have a fall of about Rs. 1,000 to Rs. 5,000.
Overall, we can say that whatever the decisions are made, it has positively affected the vehicle buyers in one form or the other.
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