If you’re considering purchasing a new Mahindra XUV700, now might be an opportune moment. Mahindra is passing on the benefits of the GST rate cut to customers, resulting in substantial price reductions across their XUV700 models. This move comes ahead of the implementation of the new GST rates on September 22nd. The company has also specified the savings customers can expect on various XUV700 trims.
The GST rate on large SUVs has decreased, shifting from 48% to 40%. This change translates to savings between Rs 88,900 and Rs 1.43 lakh depending on the model variant. The XUV700 falls under this category as the new rates are applicable to vehicles exceeding 4 meters in length, with engines exceeding 1,500 cc. Earlier the tax structure on such vehicles was composed of 28% GST plus 20% cess, for a total of 48%. This has been replaced with a simplified rate of 40%.