Mahindra & Mahindra on Saturday announced a reduction of up to Rs 1.56 lakh across its passenger vehicle range, passing on the benefit of the GST rate cut to customers.The move comes after the revamped Goods and Services Tax (GST) structure was cleared at the 56th GST Council meeting on September 3. The revised prices for all applicable internal combustion engine (ICE) models are effective from September 6 and have been updated across dealerships and digital platforms, the company said in a statement, PTI reported.Among specific models, the Bolero/Neo range has become cheaper by Rs 1.27 lakh, while the XUV3XO petrol and diesel variants are down by Rs 1.4 lakh and Rs 1.56 lakh, respectively. Prices of the Thar 2WD (diesel) and Thar 4WD (diesel) have been reduced by Rs 1.35 lakh and Rs 1.01 lakh, respectively. The Scorpio Classic has seen a Rs 1.01 lakh cut, the Scorpio-N a Rs 1.45 lakh cut, the Thar Roxx a Rs 1.33 lakh cut, and the XUV700 a Rs 1.43 lakh cut.The Mumbai-based automaker said the cuts are aimed at ensuring transparency and giving customers the full benefit of the GST rationalisation.Other automakers, including Tata Motors and Renault India, have also announced price reductions following the GST reform.