The importer should have been continuously stayed in abroad for a period of two years before coming to India for permanent settlement.
||The payment for the car is made abroad.
||The car should have been in use for atleast one year prior to importer's return to India.
||The car should be imported within six months of the arrival of importer in India.
||The custom duty should be paid in foreign exchange
||The importer is free to sell this car in the open market after his return to India without any restrictions about the period of retention of the vehicle.
||The importer can import another vehicle only after five years, if he moves out of India
||The duty on import by a handicapped persons can be paid in rupees and the vehicle in this case cannot be sold at any time without the permission of the government.
||Import of spares up to a value of Rs.20,000.00 for each imported vehicle is allowed with a license.
||The import duty is charged on the basis of list price prevailing. However, trade discount and depreciation on the value are deducted from the price list but freight from the country of manufacture and insurance charges are added.The landing charges are further added to arrive at the final assessable value.