GST effect: GST will create a single market across India, Roland Folger, Mercedes-Benz India
The GST has unified the tax structure. Long gone are the different taxes which combined to form a final value that was attached to your automobile. Now, cars with a displacement of more than 1,500cc and a length greater than 4m have become cheaper as the 51.8 per cent duty has been reduced to 43 per cent. Similar is the case with SUVs which will attract a lower duty of 43 per cent instead of the present 55.3 per cent. With the different structures proposed across the segments, it did attract mixed reactions from the Indian automobile fraternity. However, for the customers, it has been a welcome change.
Here is an update from Mercedes-Benz about the 2017 GST.
"Mercedes-Benz India was the first luxury carmaker which has been passing to the consumers the direct GST benefits since 26th May. We are looking forward to this simplified tax structure which will create a single market across India and benefit both the buyers and the sellers. There may be initial teething issues but we are confident that there will be promising long-term gains. We are encouraged with the rising inquiries and increased footfall at our dealerships and are confident of continuing with our positive growth momentum," said Roland Folger, managing director and CEO, MB India.
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Team OD | 19 Feb 2018
Team OD | 12 Feb 2018
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