Quote:
Originally Posted by R32_GTR I am a permanant australian resident and am considering coming back home for good by the end of next year...i just wanted to know if any of you'll or your mates have brought / bought a car using a TR before and would be willing to share some information or help in bring my GTR back home... |
Bring it home by all means - its cheaper to import old vehicles on TR as duty is based on the price as 'evaluated' by the Customs office in question - therefore subject to 'negotiation'. Strip it off all extras and ship those separately as unaccompanied cargo, then ship the car down as a regular skyline which is 15 (uh oh - is there a rule for cars being less than a particular age?) years old and therefore you cant pay more than a lakh in duty.
How can passenger cars/Jeep/Multi-utility vehicles/motor cycles/scooters/ mopeds etc. be imported as baggage ?
Passenger cars / jeeps / multi-utility vehicles / motor cycles etc. can be imported by passengers coming to India only on Transfer of Residence and by other importers as specified in Public Notice No. 3(RE/1997-02) of Directorate General of Foreign Trade, New Delhi, on payment of customs duty as prescribed in the Customs tariff. Passengers, other than those availing TR are not eligible to import vehicles even on the payment of customs duty. Total customs duty leviable on these vehicles at present, are as follows :
Customs duty for vehicles which had been registered abroad
Vehicle
Basic Duty
Addl. Duty
Total Duty
Cars 105% 24.48% # 159.87% #
Motor cycles / scooters / moped 105% 16.32% # 142.64% #
Customs duty for vehicles which had not been registered abroad
Vehicle
Basic Duty
Addl. Duty
Total Duty
Cars 60% ** 24.48% # 102.16% #
Motor cycles / scooters / moped 60% ** 16.32% # 88.70% #
** if brought in Completely Knocked Down (CKD) condition, Basic Duty will be 20%.
# Education Cess of 2% imposed in the budget has been considered.
DGFT has clarified vide Notification No-31(RE-2001)/97-02 dated 14.9.2001 that the conditions relating to import of vehicles as per Public Notice No. 4(RE-2001)/97-02 dated 31.03.2001, shall not be applicable on imports made under the provisions of aforementioned Public Notice No. 3(RE/1997-02) dated 31.03.2000. In simple words, the restrictions/conditions imposed on import of car by importers for commercial purpose shall not be applicable in case of the passengers bringing their own car on Transfer of Residence, except that these imports shall be subject to the condition that, the vehicle should have right hand steering and controls (applicable on vehicles other than 2 and 3 wheelers).
Value of these vehicles for the purpose of levy of customs duty is CIF value, where C stands for the cost of the goods, I is the insurance and F is the freight. Cost in the case of new vehicle is the transaction value between the seller and the buyer. However in the case of old and used vehicles, cost is arrived at by taking value of the vehicle in year of manufacture and after allowing depreciation at the following rates.
(i) For every quarter during 1st year -
4%
(ii) For every quarter during 2nd year -
3%
(iii) For every quarter during 3rd year -
2.5%
(iv) For every quarter during 4th year -
and thereafter
2%
subject to a maximum depreciation of 70%