Just in time for the festive season, Mahindra has announced lower prices for its XUV700, providing consumers with considerable savings. This move is directly linked to the recent reduction in GST rates, which Mahindra is now passing on to its customers. The new prices are in effect before the implementation of the revised GST rates on September 22nd, meaning buyers can take advantage of these savings immediately. The price cuts are substantial, with some variants seeing reductions of up to Rs 1.43 lakh.
The GST rate on SUVs has been decreased, going from 48% to 40%. The XUV700 falls into the category of vehicles affected by this change, which includes SUVs exceeding 4 meters in length and with engine displacements greater than 1,500 cc. The previous tax structure consisted of a 28% GST plus a 20% cess, summing up to 48%. The revised tax structure simplifies this to a flat 40%.
