{"id":549,"date":"2012-09-06T15:43:12","date_gmt":"2012-09-06T15:43:12","guid":{"rendered":"http:\/\/toyota-dealer.org\/wp1\/2012\/09\/06\/india-valuation-and-import-duty\/"},"modified":"2012-09-06T15:43:12","modified_gmt":"2012-09-06T15:43:12","slug":"india-valuation-and-import-duty","status":"publish","type":"post","link":"https:\/\/toyota-dealer.org\/wp1\/india-valuation-and-import-duty.html","title":{"rendered":"India Valuation and Import Duty"},"content":{"rendered":"

India Valuation and Car IMport Duty<\/h1>\n

The value <\/strong>of the car is determined in the following manner:<\/p>\n

i) Manufacturer’s invoice<\/strong> value is accepted<\/strong> wherever such invoice is available.<\/p>\n

ii) When no such invoice is available, value<\/strong> is determined<\/strong> on the basis of the world car catalogues<\/strong> available with the department or on the basis of manufacturer’s price list, wherever available. Normal Trade Discounts are allowed<\/strong> to be deducted where ever the value is taken on the basis of World car catalogues.<\/p>\n

iii) Value of Second hand car<\/strong> is arrived at in the above manner after allowing the deductions <\/strong>for depreciation as per the schedule below, subject to maximum of 70%.<\/strong><\/p>\n

<\/p>\n\n\n\n\n\n\n\n
Depreciation Percentage<\/caption>\n
\n

Period of Use<\/p>\n<\/th>\n

\n

Depreciation Allowed<\/p>\n<\/th>\n<\/tr>\n

\n

For every quarter during 1st year<\/p>\n<\/td>\n

\n

4%<\/p>\n<\/td>\n<\/tr>\n

\n

For every quarter during 2nd year<\/p>\n<\/td>\n

\n

3%<\/p>\n<\/td>\n<\/tr>\n

\n

For every quarter during 3rd year<\/p>\n<\/td>\n

\n

2.5%<\/p>\n<\/td>\n<\/tr>\n

\n

For every quarter during 4th year and thereafter<\/p>\n<\/td>\n

\n

2%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<p”>The present rate of duty on import of Car is as below:<\/p>\n

Total effective duty works out to 101.91%, which includes the following.<\/p>\n\n\n\n\n\n\n\n\n
Breakup of Customs Duty on Car Import (2000-2001)<\/caption>\n
\n

Basic Customs Duty<\/p>\n<\/th>\n

\n

35%<\/p>\n<\/th>\n<\/tr>\n

\n

SURCHARGE ON CUSTOMS DUTY <\/p>\n<\/td>\n

\n

10%<\/p>\n<\/td>\n<\/tr>\n

\n

ADDITIONAL DUTY <\/p>\n<\/td>\n

\n

16%<\/p>\n<\/td>\n<\/tr>\n

SPECIAL EXCISE DUTY<\/td>\n\n

24%<\/p>\n<\/td>\n<\/tr>\n

\n

MOTOR VEHICLE CESS <\/p>\n<\/td>\n

\n

0.125%<\/p>\n<\/td>\n<\/tr>\n

\n

SPECIAL ADDITIONAL DUTY OF CUSTOMS<\/p>\n<\/td>\n

\n

4%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

India Valuation and Car IMport Duty The value of the car is determined in the following manner: i) Manufacturer’s invoice value is accepted wherever such<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[671],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/posts\/549"}],"collection":[{"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/comments?post=549"}],"version-history":[{"count":0,"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/posts\/549\/revisions"}],"wp:attachment":[{"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/media?parent=549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/categories?post=549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/toyota-dealer.org\/wp1\/wp-json\/wp\/v2\/tags?post=549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}