Hyundai reduces price following implementation of VAT

Chennai, Jan 03 (UNI) Hyundai Motor India, leading automobile manufacturing company, has reduced its prices across Tamil Nadu for all models following implementation of Value Added Tax (VAT) to automobile sales in Tamil Nadu.

According to an official release here, implementation of the VAT regime, which came into effect in the state from January 1, 2007 involved a flat levy of 12.5 per cent on all automobiles, replacing the multiple tax regime involving 12.6 per cent.

However, while VAT replaced local sales tax and turnover tax, the central sales tax would continue to be applicable as before, the release added.

As per the new rates Santro XL would cost Rs 1,816 less, the Getz GLS would cost Rs 2,828 less, the Accent GLE Rs 4,040 less, Verna CRDi Rs 8,068 less and the Sonata MT Rs 9,233 cheaper.

UNI