Toyota hikes prices post cess increase

The new Toyota Fortuner is now expensive by Rs 1.6 lakh

The new Toyota Fortuner is now expensive by Rs 1.6 lakh

"Following the ordinance on GST amendment, we have to revise the price of our products in line with the cess hike which may almost reflect the prices in the pre-GST scenario", N. Raja, director & senior vice-president, Marketing and Sales at Toyota Kirloskar Motor, said.

Japanese carmaker Toyota has announced an increase in prices of a majority of the models in its line-up due to the GST Council's recent decision to hike the cess on midsize, large cars and SUVs.

The company has increased the price of Innova Crysta by around Rs 78,000, Corolla Altis by Rs 72,000, Etios Platinum by Rs 13,000 and Fortuner by Rs 1.6 lakh, it added. Small cars and hybrids, however, were spared from the cess hike.

The revised prices have come into effect from Sep 12, 2017.

Expressing his views on the price hike, N. Raja, Director & Senior Vice-President, Marketing and Sales, Toyota Kirloskar Motor, said: "Following the ordinance on GST amendment, we have to revise the price of our products in line with the cess hike, which may almost reflect the prices in the pre-GST scenario".

With the government notifying levy of increased cess, the effective GST rate on mid-size cars will be 45%, and on large cars it will be 48%.

Since July 1, the GST Council has changed the tax and cess rates on at least 98 goods and services, and issued 32 notifications, clarifications and corrigenda.

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