 "The logo of Mahindra and Mahindra is seen on a car at a showroom in Mumbai, India")
Mahindra and Mahindra Ltd (M&M) is one of the automobile manufacturers that will take the hit of Goods and Services Tax (GST) on hybrid cars, which now suffer a staggering 43 per cent tax under the new regime.
The company has decided to phase out the mild hybrid version of its popular sports utility vehicle (SUV) Scorpio and refrain from manufacturing any new hybrids as the 43 per cent GST rate on such cars has made them unviable.
“While we will be in readiness to launch full-hybrid and mild-hybrid models, we are unlikely to launch them till there are benefits
