TVS Motor to Pass On GST Reduction Benefit to ICE Vehicle Customers

TVS Motor (NSE:TVSMOTOR, BOM:532343) said it will pass the full benefit of the goods and tax services (GST) rate reduction to customers across its internal combustion engine (ICE) vehicle portfolio, according to a Monday release filed with the Indian bourses.

Following the GST Council's reduction of rates for ICE vehicles to 18% from 28%, customers will see lower prices starting Sept. 22, the company said in the release.

Electric vehicles remain unaffected, continuing to attract the concessional 5% GST rate, the release said.