Maruti Suzuki India passes GST benefits to customers
Shital Jibhe / 01 Jul 2017
Maruti Suzuki India on the very first day of the GST rollout announced that it will pass on the entire benefit derived from the changes in tax rates on vehicles to its customers.
Maruti Suzuki India on the very first day of the GST rollout announced that it will pass on the entire benefit derived from the changes in tax rates on vehicles to its customers.
According to the company, ex-showroom prices of many models have come down by up to 3 percent. The rate of reduction varies across locations depending on the VAT rates applicable prior to GST.
Due to the withdrawal of tax concessions on hybrid vehicles, the price of Smart Hybrid
Maruti Suzuki India’s sales stood at 3,94,571 units in Q1FY17, up by 13.2 percent on a yearly basis. The company sold 1,06,394 units in June 2017, reflecting a growth of 7.6 percent over June 2016. Out of its June 2017 sales, 93,263 units were sold in the domestic market and while 13,131 units were exported.
On Friday, the share price of Maruti Suzuki India closed at Rs 7,201 with a reduction 0.3 percent on bourses. The stock has given 72.47 percent returns in the last one year.
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