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Old 21st March 2008, 20:13   #16
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Originally Posted by csentil View Post
Ajmat, what's decay enquiries?
Typo - decoy enquiries
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Old 21st March 2008, 21:03   #17
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Yes there is a similar scheme for the vitara too.you get a vitara for about 7 lakhs.Eligiblity is the same as mentioned above.Its applicable for all vehicles brought in as CBU.
ram
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Old 21st March 2008, 21:35   #18
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i tried to use EPCG forimporting cars, since we import other machinery under the scheme.

However the article imported has to be used to generate the foreign... and exporting textiles doesn't help...

On a side note, I know a chap who runs a small holiday resort, and used the scheme to import a SUV.

And his resort doesn't generate enough forex to cover the epcg (8 times the duty saved has to be earnt in forex over 6-8 years)

So pal goes to his local currency changer, and gets a few hundred dollars every month and shows it as forex earnt.
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Old 22nd March 2008, 17:19   #19
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EPCG means export promotion capital goods.All items imported has to used to earn additional forex.A case is been going on in madras regarding the ways and means by which the Forex earned have to be calculated.
For example a lift which is imported to a hotel could be covered under epcg but it does not earn anything directly but aids in improving the service to the travellers.
So a hotel which imports a car should bring in forex equallent to 8 times duty saved in toto.Or else the fine imposed is too high.Some hotels show 8 times the duty saved in 2 yrs and then you can sell off the vehicle after that.
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Old 22nd March 2008, 17:28   #20
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Interesting ..Thanks for sharing this information ..
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Old 23rd March 2008, 13:01   #21
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Originally Posted by JayD View Post
I don't think normal people(ppl not eligiblr for this scheme) can buy these cars new. The cars can only be sold by the first owner after some 5/6 years. Some time back, a lot of cars which were illegaly sold were seized by the govt. It was after this i think that the yellow board rule came into place.
So, can I buy a luxury car 5/6 years old for 1/4th the cost of Brand new car available in India???
Quote:
Originally Posted by ram_hyundai View Post
Yes there is a similar scheme for the vitara too.you get a vitara for about 7 lakhs.Eligiblity is the same as mentioned above.Its applicable for all vehicles brought in as CBU.
ram
It means can I get a Vitara(older version) between 3-4 lakhs??
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Originally Posted by ram_hyundai View Post
So a hotel which imports a car should bring in forex equallent to 8 times duty saved in toto.Or else the fine imposed is too high.Some hotels show 8 times the duty saved in 2 yrs and then you can sell off the vehicle after that.
What you meant is that the hotel can sell the car in 2 years in above example??
Wow in that case, we can think of buying relatively new cars at very low price.

raj.
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Old 23rd March 2008, 13:45   #22
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Quote:
dhaval : And besides that what about the resale value of these cars!!?? ... but ultimately you are selling a "taxi" right?
And it can possibly bought & re-used as a taxi.
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