Mahindra is offering significant price reductions on its XUV700, making it more attractive to potential buyers. These price cuts are a direct result of the recent GST rate reductions on SUVs, which the company is passing on to its customers. The new, lower prices are effective before the updated GST rates take effect on September 22nd. Savings vary by variant, with the most significant reductions exceeding Rs 1 lakh for many trims.
The GST rate for large SUVs has been cut from 48% to 40%. This applies to vehicles exceeding 4 meters in length with engines larger than 1,500 cc. The tax structure previously involved a 28% GST plus a 20% cess, but this has been simplified to a flat 40% under the new guidelines. Consumers are encouraged to visit their nearest Mahindra dealership to get detailed information on savings for the XUV700 and other models affected by the price changes.