The implementation of Goods and Services Tax or GST has worked very much in favour of the Indian car industry. Apart from hybrid cars which have seen a major rise in taxes and electric cars which haven't seen any revision, all segments now have lesser taxes, based on which category they fall in. The one category that has witnessed the maximum drop in taxes is the SUV category and Toyota has reduced the price of the Fortuner by almost Rs 3 lakh.
The earlier tax slab levied on the Toyota Fortuner included Excise Duty at 30 percent, NCCD (National Calamity Contingency Duty) at one percent, Infra Cess at four percent, CST (Central Sales Tax) at two percent and VAT (Value Added Tax) at 12.5 percent. This brought the total tax levied on SUVs to about 55 percent which has now gone down to 43 percent. In the current tax structure, a potential buyer planning to purchase a variant of the Toyota Fortuner would have to bear GST and additional cess, which is 28 percent and 15 percent respectively.
Now a base version of the Toyota Fortuner which is powered by a 2.7 litre petrol engine mated to a 6-speed manual transmission will cost Rs 2.19 lakh less than the pre-GST price at Rs 24.41 lakh, ex-showroom. The base diesel version which is offered with a 2.8 litre diesel motor mated to a 6-speed manual transmission now costs Rs 25.88 lakh, ex-showroom, Rs 2.38 lakh lesser than the pre-GST price. The top-end diesel with an shift-on-the-fly all-wheel-drive system as well as a 6-speed automatic transmission is now available for Rs 29.18 lakh, ex-showroom, Rs 2.68 lakh lesser than the price before the implementation of GST. So, for premium SUVs like the Toyota Fortuner have seen a considerable reduction and is now accessible by more buyers.
|GST Impact on the Toyota Fortuner|
|Variant||Pre-GST Price||Post-GST price||Price Difference|
|2.7 litre 4X2 Petrol MT||Rs 26.60 lakh||Rs 24.41 lakh||Rs 2.19 lakh|
|2.7 litre 4X2 Petrol AT||Rs 28.85 lakh||Rs 25.97 lakh||Rs 2.38 lakh|
|2.8 litre 4X2 MT||Rs 28.26 lakh||Rs 25.88 lakh||Rs 2.38 lakh|
|2.8 litre 4X2 AT||Rs 29.88 lakh||Rs 27.37 lakh||Rs 2.51 lakh|
|2.8 litre 4X4 MT||Rs 30.79 lakh||Rs 28.20 lakh||Rs 2.59 lakh|
|2.8 litre 4X4 AT||Rs 31.86 lakh||Rs 29.18 lakh||Rs 2.68 lakh|