New Delhi: Honda Cars India on Thursday said it has hiked the prices of its models — City, BR-V and CR-V models, ranging between ₹ ,003 and ₹ 89,069.
The revised prices became effective from 11 September, due to the additional compensation cess in GST ranging between 2-7%, Honda Cars India Ltd (HCIL) said in a statement.
The company has increased the price of its mid-sized sedan City between Rs7,003 and Rs18,791 depending on various variants.
The prices of SUV BR-V have been hiked ranging between ₹ 2,490 and ₹ 8,242. Similarly, the company has raised prices of its premium SUV CR-V ranging between ₹ 75,304 and ₹ 89,069.
Earlier, this week Toyota Kirloskar Motor (TKM) had announced hike in prices of select models, including Innova Crysta and premium SUV Fortuner, ranging from Rs13,000 to Rs1.6 lakh. The company has increased the price of Innova Crysta by around Rs78,000, Corolla Altis by Rs72,000, Etios Platinum by Rs13,000 and Fortuner by Rs1.6 lakh.
With the government notifying levy of increased cess, the effective GST rate on mid-size cars will be 45%, and on large cars it will be 48%. The rate will be 50% on sports utility vehicles (SUVs), which include cars with length exceeding 4,000 mm and having a ground clearance of 170 mm and above. However, the cess on small petrol and diesel cars, hybrid cars and those carrying up to 13 passengers has not been raised.
Under the GST regime, cars attract the highest tax slab of 28% and on top of that a cess is levied.