India Valuation and Car IMport Duty
The value of the car is determined in the following manner:
i) Manufacturer's invoice value is accepted wherever such invoice is available.
ii) When no such invoice is available, value is determined on the basis of the world car catalogues available with the department or on the basis of manufacturer's price list, wherever available. Normal Trade Discounts are allowed to be deducted where ever the value is taken on the basis of World car catalogues.
iii) Value of Second hand car is arrived at in the above manner after allowing the deductions for depreciation as per the schedule below, subject to maximum of 70%.
India Import Policy
Passenger cars/jeeps/multi utility vehicles, etc., which are in the restricted category may be imported without a licence on payment of full Customs duty by the following categories of importers:
(a) Individuals coming to India for permanent settlement after two year’s continuous stay abroad;
- (b) Resident Indians presented with a car as an award in any international event/match/ competition;
- (c) Legal heirs/successors of deceased relatives residing abroad;
- (d) Physically handicapped persons;
- (e) Companies incorporated in India having foreign equity participation;
- (f) Branches/offices of foreign firms;
- (g) Charitable/missionary institutions registered with the Ministry of Welfare and the Ministry of Home Affairs, Government of India;
- (h) Honorary Consuls of Foreign Countries on the recommendations of the Ministry of External Affairs, Government of India;
- (i) Journalists/Correspondents of foreign news agencies having accredition certificate with the Press Information Bureau, Ministry of Information and Broadcasting, Govt. of India.
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Information about India
The Republic of India, Asia's second-largest country after China, fills the major part of the South Asian subcontinent (which it shares with Pakistan, Nepal, Bhutan, and Bangladesh) and includes the Andaman and Nicobar Islands in the Bay of Bengal and Lakshadweep (formerly the Laccadive, Minicoy, and Amindivi Islands) in the Arabian Sea. The total area is 3,287,590 sq km (1,269,345 sq mi), including 222,236 sq km (85,806 sq mi) belonging to Jammu and Kashmir; of this disputed region, 78,932 sq km (30,476 sq mi) are under the de facto control of Pakistan and 42,735 sq km (16,500 sq mi) are held by China. Comparatively, the area occupied by India is slightly more than one-third the size of the United States. China claims part of Arunachal Pradesh. Continental India extends 3,214 km (1,997 mi) N–S and 2,933 km (1,822 mi) E–W. India is bordered on the N by the disputed area of Jammu and Kashmir (west of the Karakoram Pass), China, Nepal, and Bhutan; on the E by Myanmar, Bangladesh, and the Bay of Bengal; on the S by the Indian Ocean; on the W by the Arabian Sea; and on the NW by Pakistan. The total boundary length is 21,103 km (13,113 mi), of which 7,00 km (4,340 mi) is coastline.
People of India love their cars
Folks in India love their cars, 4x4 pickup trucks, 4x4 SUVs. They want them to be of highest quality but are always on the look out for India Cars For Sale and India 4x4 Pick-up trucks for sale and India SUV for sale. Most buyers will buy in the local market as they can touch and feel the vehicle and have it right away if they like a particular car or pickup. Many dealers in India offer cars, luxury cars, pickup truck or SUVs on sale so there is always a car to be found in a person’s budget.
Who can bring a car into India
The total Customs duty incidence on cars comes to around 181%. The car can only be imported if you are transferring residence into India, the engine capacity is less than 1600 cc (for new cars - there is no engine size limit for old and used cars) and the vehicle is in your possession for more than 1 year.
In other words, only personal imports are allowed. Particularly, for these groups:
- Persons (Indian National or Foreigners) Coming/Returning To India For Permanent Settlement.
- Foreign Nationals Married To Indian Nationals.
- Foreign Nationals Working In India.
- Foreign Firms, Companies And Institutions Established In India.
- Companies Incorporated In India Having Foreign Equity.
- Journalists/Correspondents Of Foreign News Agencies.
- Indian Firms Executing Contracts Abroad.
- Charitable And Missionary Institutions.
- Physically Handicapped Persons.
- Honorary Consuls Of Foreign Government.