Though most of the car manufactures have set up their units, dealerships and agents in India, there are certain high-end models that have to be imported directly from their country of origin due to the unavailability here. Many celebrities, cricketers, automobile enthusiasts and business tycoons in India have imported their cars from around the world.If you are a motorhead and are planning to import an automobile from any part of the world then this article is for you. Read on to know how to import a car to India.
Things to consider before importing a car to India
If you are willing to import an automobile to India, here are some basic figures that you should be aware of during the process.You should pay the import duty of 165% of your four-wheeler’s price tag as the cost, insurance and freight (CIF). Additionally, it is mandatory to register your vehicle in India at the nearest RTO. Moreover, the charges for registration and road tax are not included in the import duty. These charges depend upon the type and cost of the vehicle.
Conditions to import foreign-assembled cars in India
In order to import a brand new car to India, one must have to satisfy the conditions of the procedure like- the model should be manufactured or assembled out of India, the car must be imported from its country of origin. Moreover, as far as the new vehicle is concerned, it must not be previously sold, loaned, registered, or leased before being imported to India. The elements of a car must abide by the Indian laws, such as the vehicle must be right-hand drive, the headlights of the car should be such that they are suitable for illuminating the left side of the road and the speedometer should show speed in kilometres and not miles.
The process of importing is possible only via naval docks which are situated in Mumbai, Chennai and Kolkata. Thus, the car should be brought to India via any of these ports only.
Paperwork and documentation
Paperwork and documentation is the most important thing in any process of trade. You must have the required documents in order to complete the process safely and hassle-free. The invoice of the car from the manufacturer is a must-produced document in the process followed by its insurance policy and General Agreement on Tariffs and Trade (GATT) declaration.
Moreover, a bank draft, a valid import license with a bill of lading are to be produced to the authorities from your end. The purchase order, test report of the vehicle with the DEEC (Duty Exemption Entitlement Certificate) / DEPB (Duty Entitlement Pass Book) / ECGC (Export Credit Guarantee Corporation of India) are the documents that you may have to present during the process.
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