Honda Cars India on Thursday said that it has hiked the prices of its models - City, BR-V and CR-V models, ranging between ₹7,003 and ₹89,069.
The revised prices became effective from September 11, due to the additional compensation cess in GST ranging between 2-7 per cent, Honda Cars India Ltd (HCIL) has said in a statement.
Its mid-sized sedan City is costlier by ₹ 7,003 and ₹18,791 depending on variants.
The prices of SUV BR-V have been hiked between ₹ 12,490 and ₹18,242. and 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 ₹13,000 to ₹ 1.6 lakh.
Innova Crysta price has increased by around Rs 78,000, Corolla Altis by ₹72,000, Etios Platinum by ₹13,000 and Fortuner by ₹ 1.6 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.
