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| General
Conditions |
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| Passenger
cars and automobile vehicles may be imported into India
by certain categories of eligible importers. The import
can be made without a license subject to the following
conditions: |
| 1. |
Payment
for the vehicle is made outside India and such payment
should not result in remittance of foreign exchange from
India. |
| 2. |
Payment
of the customs duty is made in foreign exchange. |
| 3. |
Specific
conditions applicable for each category of eligible
importers are complied with. |
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| Eligible
Importers |
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| Duty
Payable |
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| Import
Duty is payable on motor cars, motor cycles and scooters (whether new or
old) imported into India on the basis of their list price prevailing in
the country of their manufacture on the date on which the Bill of Entry
is presented. |
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| Trade
discount and depreciation in case of old vehicles are deducted from the
price list. Depreciation for second hand or used cars is allowed
at the prescribed scale. The period for which depreciation is allowable
is calculated from the date of registration of the vehicle to the date
of actual shipment of the vehicle or the date of departure of the owner
from the foreign country, which ever is earlier. |
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| Freight
from the country of manufacture and insurance charges are added. Freight
is calculated from the country of manufacture to the first port of
landing in India. The landing charges are also added to arrive at the
final assessable value |
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| The rate of exchange would be
as on the date on which the Bill of Entry for clearance is presented to
the Customs. |
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