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Royal Enfield, TVS bikes to get cheaper as firms will pass on GST benefit

Under GST, most of the two-wheelers will attract a tax rate of 28%, lower than 30% presently

Press Trust of India  |  New Delhi 

The EPFO has a subscriber base of around 4.5 crore and manages a corpus of around Rs 10 lakh crore with annual investible deposits of Rs 1.5 lakh crore

Two-wheeler makers Company and have become the latest to pass on expected benefit of to by lowering prices of their vehicles.

Niche bike maker has reduced prices of its models by up to Rs 2,300 (on-road Chennai) while TVS Motors did not disclose quantum of price cut on its product portfolio.

Royal Enfield, which is a part of Eicher Motors, currently sells a range of motorcycles, including Bullet, Classic and Thunderbird.

"The slab for reduction is expected to be between Rs 1,600-2,300 on road The reduced slab shall vary from state to state," a company spokesperson told PTI.

Company President and CEO K N Radhakrishnan said the would bring a lot of ease in doing business.

"We will be passing on the benefits to our customers," he added.

Taxes on are expected to reduce in most states with the implementation of the Goods and Services (GST) from July 1 2017, although benefits vary from state to state.

Under GST, most of the two-wheelers will attract a rate of 28 per cent, lower than total incidence of around 30 per cent at present.

with engine capacity of over 350 cc, however, will attract an additional cess of three per cent.

Already, and UM Lohia Two Wheelers have announced a reduction in prices of their to pass on the expected benefits of to

Bajaj has reduced prices of its motorcycles-from CT 100 to Dominar 400-by up to Rs 4,500 while UM Lohia Two Wheelers has cut prices of its two models by up to Rs 5,700.

Besides, such as Ford India, Audi, and have reduced prices of their vehicles between Rs 10,000 and Rs 10 lakh to pass on the benefits of GST in June, ahead of its implementation.

First Published: Sun, June 25 2017. 14:58 IST