In July and August, it was all about passing on the “benefits”. Now though, its about burden. Toyota Kirloskar Motor announced that the company will pass on the GST cess hike to the customers, effective from 12 September 2017.
The GST council had hiked the cess levied over the base 28% tax on mid-size sedans, luxury cars and SUVs, effective from 11th September. More here.
Commenting on the price hike, N. Raja, Director & Senior Vice President, Marketing & Sales, TKM, said: “Following the ordinance on GST amendment, we have to revise the price of our products in line with the cess hike, which may nearly reflect the prices in the pre-GST scenario. The approximate price increase in Delhi for Innova Crysta will be up to Rs 78,000, all New Fortuner up to Rs 1,60,000, all new Corolla Altis will witness a price rise of up to Rs 72,000, and Platinum Etios price will increase up to Rs 13,000.”
The price of hybrids and small cars remain unaffected post the hike.