CA explains how to buy Mahindra Scorpio Z8L for Rs 13.43 Lakh | Tech US News

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It’s just incredible to see and experience how our tax laws work and how we can save a ton of money by playing with the rules.

Using the taxation rules, you may be eligible to get a huge discount on your Mahindra Scorpio N. In fact, these rules apply to any car of your choice. Scorpio N is currently the most popular SUV in our country. In some cases, the waiting period for the SUV has extended to more than 2 years and delivery is scheduled for December 2024. But it’s definitely not an affordable SUV, which is why you should try to get as much discount as possible.

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How to get 51% discount on Mahindra Scorpio N?

This video has been shared by Taxation on its YouTube channel with CA Sahil Jain. He posts content on how to save tax on cars. He explains how a Toyota Fortuner can be bought for just Rs 23 lakh. However, one can use the same method to save up to Rs 16 lakh on the on-road price of the Mahindra Scorpio N. Calculations are done considering the Z8L 4×4 top trim. Its on-road price is Rs 30.10 lakh. First and foremost, you are eligible to get a deduction of 1% TCS (Tax Receipt at Source) on the ex-showroom price. 23,900 (ex-showroom price is Rs. 23.90 lakh).

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Secondly, if you use the SUV for supply, transportation or driving school, you will be eligible for ITC on paying GST. This is 28 percent of the ex-showroom price. In the case of our Scorpio N, it comes to Rs 6.69 lakh. After deducting these two aspects, you would have effectively paid Rs 23.17 lakh for the SUV. On this remaining amount, you can claim depreciation. Note that the first two deductions will be taken within the first year. But depreciation is applied over years.

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Pay just Rs 13.43 lakh for Scorpio N Z8L.

In the best case scenario, you will be taxed at 42% which will be your depreciation on the remaining amount (Rs. 23.17 lakhs). After all the calculations, you will pay just Rs 13.43 lakh for the Scorpio N Z8L. This equates to a saving of Rs 16.60 lakh. In other situations, where you are not eligible for ITC on GST and your tax slab is below 42%, you will still be able to get about 31% discount on the on-road price.

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Mahindra Scorpio N Discount
Mahindra Scorpio n

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