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Post GST, supercars & ultra-luxury cars to be cheaper

Supercars-2017
With the implementation of GST, the prices of supercars and ultra-luxury cars will become cheaper by over a crore.

Due to the implementation of GST, the car prices have slashed down in India. The conventional customers are enjoying significant price cut on various models while supercars or an ultra-luxury car will become cheaper by over a crore after GST, especially in Mumbai.

The Maharashtra state government has raised the one-time registration tax on private two and four-wheelers by 2% to offset the loss of revenue, following the repeal of octroi and local tax post-GST. However, the central government has covered the tax amount on the high-end CBUs at just ₹20 lakh. With effect to this change, some of the cars costing over ₹5 crore will get cheaper by over ₹1 crore.

The Lamborghini Aventador Roadster LP 700-4 comes with an ex-showroom price of around ₹5.64 crore. Before GST, the car was attracting 20%(₹1.13 crore) road tax along with 4.5%(₹25.38 lakh) Octroi in Maharashtra, making the overall cost over Rs 7.2 crore. With GST in effect, we have to now pay just ₹20 lakh against the sum or both these taxes, saving more than ₹1.18 crore. While in case of Buggati Veyron whose ex-showroom price is around ₹12 crore will encounter ₹2.74 crore price reduction with GST in effect.

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