Mahindra is offering attractive price cuts on the XUV700, providing potential buyers with significant savings. The price adjustments reflect the benefits of the GST rate reduction and are effective before the new rates come into force on September 22. Mahindra has provided details on the variant-specific savings.
The tax rate on large SUVs has been reduced from 48% to 40%, leading to savings ranging from Rs 88,900 to Rs 1.43 lakh. The XUV700 fits the criteria for the new GST rates, which apply to vehicles over 4 meters in length and with engines above 1,500 cc. Previously, these vehicles were taxed at 28% GST plus a 20% cess, making the total 48%. The new rules simplify the tax to a flat 40%.