Local media today reported that the federal cabinet has approved a 25% General Sales Tax (GST) on luxury items, including cars. The report mentioned that the government slapped this new tax rate on locally assembled cars with 1400cc and above engine displacement. The Federal Board of Revenue (FBR) has estimated it will collect around Rs. 15 billion through this new tax slab. It is expected that FBR will issue the notification today or in the next few days, as one FBR official told PakWheels.com that the tax-collecting body is still waiting for a notification from the government.
As it is almost certain that the government will apply 25% GST on 1400cc and above cars, we have calculated the estimated new prices of these vehicles.
Estimated Prices of 1400cc and Above Cars
We will share the new estimated prices of all car companies separately. Here is the list.
Toyota Cars
As per our estimate, the Toyota car prices can see a jump up to Rs. 30 lacs as Fortuner Legender could cost Rs. 19,186,441 instead of Rs. 18,112,000. Meanwhile, the new price of Toyota Corolla Altis Grande 1.8L (Black Interior) could be Rs. 7,413,136 compared to current Rs. 6,998,000.
Toyota’s famous sedan, Yaris ATIV X CVT 1.5L could reach Rs.5,522,246 from current price of Rs. 5,213,000. Here is the detailed chart for all Toyota cars.
Honda Cars
Honda Civic RS Turbo 1.5L would cost Rs. 9,744,703 from Rs. 9,199,000. Here is the list of Honda cars for you. Honda’s crossover SUV, HR-V VTi-S, can cost to Rs. 7,837,924 from Rs. 7,399,000.
Hyundai Cars
The estimated price of Hyundai Tucson AWD A/T Ultimate could be Rs. 8,018,008 from Rs. 7,569,000. Meanwhile, Elantra GLS could cost Rs. 6,725,636 compared to Rs. 6,349,000.
Kia Cars
The new price of Kia Sportage AWD could be Rs. 8,173,729 against the current Rs. 7,716,000.
Changan Cars
The new estimated price of Changan Alsvin 1.5L DCT Lumiere would be Rs. 4,871,822 against the current Rs. 4,599,000.
Proton Cars
Proton’s crossover SUV, X70 Premium, could start costing Rs. 7,616,525 from the current Rs. 7,190,000.
Haval & Baic Cars
As both are launched by Sazgar Engineering, hence, we are sharing their new possible prices together. The price of BAIC BJ40 Plus can reach Rs. 11,212,924 from the current Rs. 10,585,000.
DFSK, MG and Chery Cars
These companies have only one or two cars on the list, we are sharing their details under one headline. The Chery 8 Pro by Chery can start costing Rs. 9,850,636 compared to the current Rs. 9,299,000, while MG HS Essence can reach Rs. 8,685,381 from Rs. 8,199,000.
It is important to mention that these are estimated prices as per our calculations, and there could be a difference in prices announced by the car companies.
