Luxury carmaker Jaguar Land Lover (JLR) urges the Indian Government to reduce Goods & Services Tax (GST) on luxury cars in the upcoming union budget. Rohit Suri, President & Managing Director of the Tata-owned British brand expects the government charts out a long term and stable policy to lift the market.
“Current GST tax rates at 48% for sedans and 50% for SUVs in the premium segment are extremely high. To help expand the market and generate more jobs, we would urge the government to not only reduce these taxes to reasonable levels, include left out taxes such as road tax etc. within the GST regime, but also ensure stabilization/longer-term policies and tax regimes,” Rohit Suri said.
He further added, “2017 has proved to be a good year despite several policies and regulatory developments including GST and demonetisation. GST is a significant reform that the country needed, and we appreciate the government’s efforts for a smooth transition. However, to operate in any market, carmakers need reasonable tax rates.”
Despite various jolting reforms like demonetisation and GST implementation, all the luxury car manufacturer recorded 2017 as one of the best years in terms of sales volume.
Jaguar Land Rover India posted a roboust growth of 49 percent in volume for the calendar year 2017. JLR sold 3954 units sold during this period.
Going by the company, contribution to this growth came from almost all model lines of Jaguar Land Rover, starting with the XE followed by the XF, F-PACE, Discovery Sport and Range Rover Evoque. Jaguar and Land Rover vehicles are available in India through 26 authorised outlets.