Automaker Tata Motors said that it has reduced prices of its passenger vehicles by up to Rs 2.17 lakh, making available the GST benefit to its customers.
“Following the rollout of GST, we have decided to pass on the entire benefit to our customers. We are offering a price reduction of up to 12 per cent ranging between Rs 3,300 and Rs 2,17,000, depending on the model and variant,” Tata Motors President, Passenger Vehicles Business Unit, Mayank Pareek said in a filing to the Bombay Stock Exchange.
The company “whole-heartedly” welcomes the initiative by the Union government for introducing GST and bringing in a uniform tax across the country, he added.
“This will enhance the ease of doing business and usher in a new era for the economy in general and especially, for the automotive industry,” Pareek said.
Meanwhile, shares of the company were trading at Rs 431.70 apiece, up 0.95 per cent from the previous close at 12:10 hours on BSE.