WHAT YOU PAY FOR IMPORTS INTO INDIA
56% OF THE BASIC PRICE OF A CAR GOES TO GOVERNMENT IN THE FORM OF VARIOUS TAXES + WHAT YOU PAY THE DEALER BY WAY OF HIS MARGIN
Ex-factory taxes
(central excise*+calamity tax + cess)----> 25.63%
Central sales tax------------------------> 3%
Local sales tax--------------------------> 12%
Octroi ---------------------------------->1%
Road tax* ------------------------------>2%
Dealer margin --------------------------->5%
Source:
Mr Taxman, can you tell me... why is it that import duty on a business jet is merely 3 per cent, on a yacht 10 per cent, but it's 60 per cent on cars