GST Impact – TVS Motor Cuts Prices Marginally
The price reduction is in the range of Rs 350 to Rs 1,500 for the commuter segment, while the reduction goes up to Rs 4,150 for entry level performance bikes
TVS Motor has announced the reduction in prices for its entire range of vehicles. As per the newly implemented Goods and Services Tax (GST), two wheelers above 350cc capacity will be considered as luxury items and will attract 31 per cent tax, while those below 350cc will be taxed at 28 per cent. All TVS scooters and bikes fall under the 350cc category and are eligible for the price cut.
With the new tax structure kicking in from July 1, 2017, TVS has reduced the prices of all their commuter two wheelers by Rs 350 to Rs 1500 and the entry level performance bikes by up to Rs 4,150. While ex-showroom prices for some bikes have dropped, the on-road prices have gone up because of the hike in RTO charges and vehicle insurance.
TVS currently offers the Jupiter, Wego, Scooty Zest and the Scooty Pep Plus in the scooter segment and the Apache RTR 160, Sport, Apache RTR 180, Apache RTR 200 4V, Victor, Star City Plus and the Phoenix in the bikes segment. TVS also sells the TVS XL 100 positioned as utilitarian vehicle. The company is yet to release the revised price list of its product portfolio and we will update you with the same as soon as it’s out. Stay tuned.