Suzuki Swift Glx Cvt Price Surge Following GST Hike

Abdullah

11 Mar 2024

427 Suzuki Swift

Suzuki Swift Glx Cvt Price Surge Following GST Hike

In response to the recent governmental imposition of a 25% General Sales Tax (GST) on cars exceeding the Rs. 40 lacs threshold, Pakistan Suzuki Motor Company (PSMC) has taken proactive measures to mitigate the impact on consumers. PSMC emerges as the trailblazer in this economic adjustment, marking a significant shift in the automotive market landscape.

Navigating the Price Adjustment:

In the wake of the GST hike, PSMC has recalibrated the pricing dynamics, focusing on the Swift GLX CVT variant. Commanding attention, this variant now boasts a revised price tag of Rs. 5,429,000, demonstrating a noteworthy uptick of Rs. 304,000 from its former Rs. 5,125,000. Meanwhile, Pak Suzuki remains steadfast in maintaining the existing price structure for its other vehicle variants.

Decoding the GST Impact:

While the 25% GST is already applicable to vehicles boasting an engine capacity of 1400cc and above, the intricacies of this tax amendment lie in the second clause of the Special Revenue Order (SRO). This clause stipulates that vehicles crossing the Rs. 40 lacs benchmark will be subject to a 25% sales tax, with the tax itself excluded from the vehicle's listed price.

Suzuki's Illumination:

Suzuki says that, despite certain Cultus and Swift variants surpassing the Rs. 4 million mark, only the Swift GLX falls within the purview of the new tax regime when factoring out the sales tax.

Widening GST Horizons:

Under the revised amendments, the 25% GST will extend its reach to locally manufactured or assembled vehicles featuring an engine capacity of 1400cc and beyond. Furthermore, it encompasses locally manufactured or assembled vehicles crossing the Rs. 4 million threshold in invoice price (excluding sales tax). The revised GST framework also encompasses locally manufactured or assembled double cabin (4x) pick-up vehicles.

Potential Repercussions for Other Models:

The ripple effect of the GST may potentially cast its shadow on other models, including but not limited to Honda City, Toyota Yaris, and Proton Saga. However, concrete confirmation awaits official announcements from the respective automotive entities. The industry is on edge, awaiting further insights into the unfolding dynamics for these sought-after car models in the market.

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