GST Impact – Glory 580 Pro Price Increased
After imposing a 25% General Sales Tax (GST), Regal Automobile Industries Limited has increased the price of DFSK Glory 580 Pro by Rs. 490,000 as it will now cost Rs. 6,990,000 instead of Rs. 6,500,000. The new price is effective from March 14, 2023.
As per the company, these are the terms and conditions for the consumers:
- The above prices are the maximum suggested retail price, ex-factory per unit, including taxes and dealer commission.
- The full payment dated March 13, 2023, will be accepted at the old price.
- Any impact on the price due to changes in Pakistani rupee parity against the US dollar, government levies tariff structure, fiscal policies, import policies, etc., will be on the customer’s account.
- The above prices are provisional and subject to change without prior notice, and the price prevailing at the time of delivery shall be applicable.
- Bookings with full prices before the issuance of this new circular will be delivered at the old price.
Previous Hike of Glory 580 Pro
On February 20, DFSK Glory 580 Pro’s price was increased from Rs. 6,200,000 to Rs. 6,500,000 after observing a jump of Rs. 300,000. At that time, the price was increased after the imposition of 1% extra GST from 17% to 18% on all items by the federal government.
Under the new mini-budget, the government has imposed 25% GST against the previous 18% on all luxury items, including all SUVs. Furthermore, the 1400cc and above cars, CUVs, and 4×4 cabin vehicles have also been included in this new tax slab, causing a fresh wave of price increases in the local market.
Meanwhile, the overall situation of the auto industry is still uncertain and bleak as the LCs by the State Bank of Pakistan (SBP) are still closed, while the rupee is continuously devaluating against the PKR. It would not be surprising if the prices would see another jump shortly because of these circumstances.
What do you think about the latest price of Glory 580 Pro? Please share your thoughts in the comments section.