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|15th March 2006, 21:17||#1|
Join Date: Mar 2006
Thanked: 14 Times
Importing a Pajero to India. Help wanted
My friends cousin owns a Pajero in duabi and intends to sell it to him . I would like to know whether
1> What would be the leagl ammount i would have to pay suppose if i get the car at 12lacs.
2> Can the car be gifted in blood relations so that the duties can be evaded
3> If i dont transfer the car in my name and keep it in cousins name what is the time frame within which he has to show the government that he is here driving
4> Atre there any methods by which the duties can be minimised
If u have any suggestions please help
|16th March 2006, 11:07||#3|
Join Date: Jun 2004
Location: Turin, Italy
Thanked: 3 Times
Giving down the info to the best of my knowledge-
First of all, you or your cousin will have to pay duty on the car, no matter whose name the car is registered in.
More importantly, the Car shouldve been owned by the person who will bring it to India for atleast 6 months prior to shipping from the exit port(in this case - Dubai). Also considering its Dubai, the car would be LHD, in which case those imports are not allowed into the country anymore.
The person bringing the car to India should have help NRI status for atleast 3 years and will have to show proof that he is moving back to India, hence availing the Transfer Of Residence part on calculation for customs duty. The valuation of the car will be left to the customs officer....who valuates your car(tricky situation) because even if you show him a receipt of 12 lacs , he will check his book values and valuate the car accordingly.
If all that is cleared and the numerous other taxes are paid.....you can then proceed to register the car in the place of your choice.
Considering the car has come in under Transfer of Residence, it then cannot be sold to anybody for a period of atleast two years.
Good luck with the deal.
|16th March 2006, 14:35||#4|
Senior - BHPian
Join Date: May 2004
Thanked: 282 Times
The customs value the car by the year made/registered and then depriciate some percentage using a chart to current date and u should pay taxes.
I forgot that depriciation figures.Been long-time since i was into imports and my bad memory.
|16th March 2006, 15:22||#5|
Join Date: Nov 2005
Thanked: 8 Times
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