Varun, the duty calculated on a bike is, I believe, taken on the list price of that bike when it was manufactured. i.e. If the bike in question is a 2003 R6, the customs will calculate the duty based on the price of that bike when new in 2003. They then calculate depreciation on it as per their fixed scale and arrive at the final figure.
Other fee's and levies would also apply which increases the price. Registration varies from state to state and city to city. Plus, being India, i'm sure a bit of chai paani is necessary in order to get things moving or else the bike would remain in the customs warehouse for months.
We do have some importers on the forum, so lets hope they can chip in with their first hand experiences.
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He who makes the loudest noise usually has the least to say. Unfortunately they don't realise that and keep at it!
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