NEW DELHI: The country's largest carmaker Maruti Suzuki India Limited on Saturday said that the company is passing on the entire benefit of GST rates on vehicles to its customers.The ex-showroom prices of Maruti Suzuki models have come down by upto 3%, post the levy of new tax rates and cess under GST. "The rate of reduction varies across locations depending on the VAT rates applicable prior to GST", the company said.Kenichi Ayukawa, MD & CEO, Maruti Suzuki, said, "Government of India and all policy makers deserve a big congratulations on the successful introduction of GST. This is a truly epoch making reform. While GST will directly improve efficiencies and ease of business, its significance goes much beyond that. "The statement added, due to withdrawal of tax concessions on mild hybrid vehicles, the price of Smart Hybrid Ciaz Diesel and Smart Hybrid Ertiga Diesel has increased.The new prices are effective from July 1, 2017.

Source: Economic Times July 01, 2017 05:48 UTC