TVS Motor to Pass on GST Cut Benefits to Customers

TVS Motor Co. Ltd. on Monday said it will transfer the full benefit of the recently announced goods and services tax (GST) rate cut to its customers once the revised rates come into effect.

“With the Council reducing GST rates on ICE (internal combustion engine) vehicles from 28% to 18%, there will be significant savings on our products,” the two-wheeler maker said in an exchange filing.

The company, however, did not specify the extent of price reduction across its scooters and motorcycles.