Hyundai Motor India Rate Cuts: Hyundai Motor India has announced discounts across its product lineup in the country, effective September 22. The move follows the GST Council’s bumper cuts last week, roughly a fortnight after PM Narendra Modi’s promise of a “big Diwali gift” in the form of substantial price cuts on several items. The GST 2.0 reform brings down the tax on automobiles in the cpountry to 18 per cent from 28 per cent. The decision was taken at the GST Council’s 56th since the launch of the indirect tax in 2017.
The magnitude of Hyundai Motor India’s discounts ranges from Rs 60,640 to Rs 2,40,303.
Here’s the post-GST 2.0 Hyundai Motor India price list across models:
- Hyundai Nios: Up to Rs 73,808
- Hyundai Aura: Up to Rs 78,465
- Hyundai Exter: Up to Rs 89,209
- Hyundai i20: Up to Rs 98,053
- Hyundai i20 N Line: Up to Rs 1,08,116
- Hyundai Venue: Up to Rs 1,23,659
- Hyundai Venue N Line: Up to Rs 1,19,390
- Hyundai Verna: Up to Rs 60,640
- Hyundai Creta: Up to Rs 72,145
- Hyundai Creta N Line: Up to Rs 71,762
- Hyundai Alcazar: Up to Rs 75,376
- Hyundai Tucson: Up to Rs 2,40,303 (biggest cut)
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GST 2.0 Rate Cut on Automobiles | What’s happening to car pricing in India?
The GST Council has announced a slew of changes in taxes across several industries, with the broad rate for automobiles by 10 percentage points to 18 per cent.
Here are five major changes in the GST 2.0 reform:
- Petrol and petrol hybrid, LPG, and CNG passenger cars below 1200 cc in the sub-4 metre category will now attract a 1,000-basis-point lower GST of 18 per cent
- Diesel and diesel hybrid cars below 1500 cc in the sub-4 metre category will also be taxed at 18 per cent, instead of 28 per cent
- Three-wheelers will be taxed at 18 per cent instead of 28 per cent
- Motorcycles up to 350 cc will be taxed at 18 per cent instead of 28 per cent
- Goods vehicles will also attract an 18 per cent levy instead of 28 per cent
See full list of PM’s ‘Diwali gift’ GST cuts
