Hello guys, I am in a dilemma.
Was looking for a 5-seater SUV, had zeroed in on Creta 1.6 Petrol, almost on the verge of booking it but then GST rates were announced.
In heaps of confusion whether to book it now or wait after GST?
I am from U.P. and am unable to find a clear tax structure being applied on new vehicles at present here(before GST), so as to calculate the correct increase or decrease in price myself, post-GST.
So if anyone has any idea regarding this situation, specifically Uttar Pradesh(you are more than welcome to post your input even from any other state), please don't hesitate to put down your 2 cents as to what should I do.
I have done my homework though and this is what I have been able to conclude, please tell if there is something wrong etc.
I am unsure about the present tax structure in UP, whether it is 49% or 53%(see details below).
I know it will be 43% post-GST on CRETA (please correct me if I am wrong here too.)
Current Ex-showroom price of Creta SX+ 1.6 Petrol Manual in Meerut, U.P. - Rs.12,04,483
Current On-Road price, as quoted by the dealer, in Meerut, U.P. - Rs.14,07,494
(which includes TCS-Rs.12,045, Accessories-Rs.7,200, Zero Dep. insurance-Rs.54,068, Registration-Rs.1,25,448, Extended warranty-10829)
1. If present rate is 49%(30% Excise + 14% VAT + 4% Infra Cess + 1% Luxury Cess),
Ex-showroom price, post-GST, will be Rs.11,55,995(Rs.48,488 cheaper)
2. If present rate is 53%(30% Excise + 14% VAT + 4% Infra Cess + 1% Luxury Cess + 2% CST + 1% NCCD + 0.5% Krishi Kalyan Cess),
Ex-showroom price, post-GST, will be Rs.11,25,759(Rs.78,724 cheaper)
1. If present rate is 49%, then On-Road price will be - Rs.13,55,251 (Rs.52,243 cheaper)
2. If present rate is 53%, then On-Road price will be - Rs.13,21,690 (Rs.85,804 cheaper)
So guys, this is what I have been able to figure out till now, I know its a long post, but if you have even the slightest idea what is going to happen post-GST, in regard to Creta, please help a fellow car enthusiast out. Or if you know about the present tax structure in UP, please tell, it will help in further simplifying things.
I am gonna post it on a couple more places too, so if I get any reply from there I will update it here.