What is the process a foreigner must follow if he wants to

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What is the process a foreigner must follow if he wants to get his personal vehicle to India and use it for a certain period of time and take it back once he is leaving for good.
How much cost is involved in such a step.
  • 4006 day(s) ago by Samraat
Under:   #Miscellaneous
2
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Basic guidelines are as below.
1) The person who is importing the car should have been abroad continuously for a period of not less than two years.
2) The purchase consideration should have been made abroad.
3) The car should have been in use for a minimum of one year before the importer's return to India.
4) There should not be a time gap of more than six months between the importer's arrival in India and the import of the car.
5) Foreign exchange should be the medium through which the customs duty should be paid for the car.
6) The importer is at liberty to sell the vehicle anytime in India after it has been formally imported.
7) There should be a time gap of five years before the importer can import another car.
8) Where a handicapped person is concerned the import duty can be paid in Indian currency and the Government's permission should be obtained before selling it.
9) A license is required for the import of spares.
10) The market price would be the basis at which the import duty would be calculated. While the trade discount and depreciation on the value are deducted from the price, freight from the country of manufacture and insurance charges are added on to it in addition to the landing charges.
 

Posted: 3807 day(s) ago


Srrajan
what is the amount of duty has to be paid.
 

Posted: 2072 day(s) ago


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