Customs duties and taxes that are applicable on used car to import to India
Question: What is the maximum customs duty plus any other taxes that are applicable on a used car owned for more than a year, imported for personal use under transfer of residency to India.?
Raju Kanumuri: NRIs who are returning to India after a stay abroad may avail the “transfer of residence” for permanent settlement. Under this, you are allowed to import one car or motorcycle (new or used)
Customs duty is calculated after deducting the cost of inflation. The maximum depreciation allowed in India is 70% of the new car price. The depreciation on used car for every quarter during 1st year is 4%. For more information refer https://www.videshi.com/nri-information/custom-duty-on-used-imported-cars-in-india
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