GST effect: Jaguar Land Rover's reaction to the new vehicle taxation rules in India
The new tax regulations for the auto industry have been laid down by the Government of India. While the previous taxation system included the excise duty, various forms of cess, VAT and NCCD, Goods and Service Tax (GST) will have only one tax and a certain percentage of cess. While many have applauded this decision, some manufacturers have expressed disappointment based on the portfolio of cars they sell in India. Depending on whether its a small car or even for that matter hybrids, the prices have either gone up or increased significantly. While you can read more about how GST impacts the automotive sector overall on this link Here is what Jaguar Land Rover India has to say on the subject.
Rohit Suri, president and MD, Jaguar Land Rover India, said, "We are very pleased to welcome the dawn of the new GST era in India and are happy to announce that we are ready for GST and our customers can purchase Jaguar & Land Rover cars at the new GST prices with immediate effect from any of our 25 retail outlets across India."