How to import a foreign Car to India New and Second Hand?
Isn't it thrilling to see a premium car on the highway? Mostly everyone fantasizes about driving or riding such cars. Famous actors and corporate executives in India own high-end automobiles imported from other nations. Consumers are eager to make a significant investment to purchase these cars in India because they are elegant and luxurious.
However, the difficulties concerning importing a car have caused many people to abandon this plan. But, if you're a vehicle enthusiast who wants to bring the best cars worldwide to India, you should be aware of the rules for importing cars. So, we will discuss the procedures to assist you in importing foreign new and second-hand cars to India.
What are the Rules and Regulations for Importing Foreign Premium Cars in India?
Compared to other nations, the rules for importing a foreign car in India are quite severe and rigid. For example, the Indian Government permits only those foreign automobiles to drive on Indian roads that follow all rules. Moreover, we have mentioned a few of the most significant things to consider when importing a foreign car into India.
Significant Guidelines to Know While Importing New Cars to India
While importing a new car into India, there are a few things to keep in mind. First, remember that you have to complete the following conditions to legally import a car from another country: 1. The imported car should be most likely designed and manufactured outside of India. 2. Make sure that the imported car must have been built or constructed in the same nation. 3. The car's driving wheels are on the right side. Therefore, it necessitates the use of a right-hand drive vehicle. 4. It should be a fresh vehicle with no previous sale, rent, registration, or another such background. 5. The premium car must be compliant with the Central Motor Vehicles Act of 1988. 6. Foreign cars can get access to India lawfully through the three prominent navy docks of Mumbai, Chennai, or Kolkata. 7. This car's lights should be placed such that they can properly light the road's left edge. 8. The speedometer in your automobile should reflect the pace in kilometres per hour rather than miles per hour.
Significant Guidelines to Know While Importing Second-Hand Cars to India
Importing a second-hand car also follows some rules similar to importing a new car. So, if you are buying a used foreign car, ensure that it satisfies the following guidelines:
- A Second-hand foreign car imported to India must not be older than three years.
- The duration of the vehicle inspections accreditation should be at least 5 years.
- Such imports are also available to charitable foundations and religious organizations with sufficient registration.
- Cars that have transnational companies with centres in India are imported in India.
- A person who receives a car from a relation who lives in another country.
- Journalists/ Reporters who have received necessary authorization from the Ministry of Information and Broadcasting can also apply for this import service.
- Auxiliary consulate officers can also import these commodities with authorization from the Ministry of External Affairs.
- Companies in India that invest in international equities.
Crucial Papers and Documents
Despite certain rules and guidelines to follow, there are several documents to present for importing. When you think of importing a foreign car into India, you will need to present the following documentation: ? Insurance Coverage documents of the foreign car ? The car's invoices ? A GATT declaration (A Customs statement that states the cost of an imported item like automobiles). ? Import Permit ? Bank Draft ? Duty Entitlement Passbook (DEPB) / Export Credit Guarantee Corporation of India (ECGC) / Duty Exemption Entitlement Certificate (DEEC) ? Letter of Credit/Purchase Order ? Test Reports ? Memorandum of Credit/Purchase Order These are the essential documents that you need to present while importing a foreign car in India. So, ensure that you have all the documents prepared for proceeding with the import process.
Few Things to Know When Importing a Foreign Car in India
It takes a long time to import a car from another country. Therefore, you must think about a few significant things before beginning the importation procedure. The following are the items you should be aware of when importing a vehicle into India: - Registration You must register your imported car with the nearest Regional Transport Office (RTO) in India. The import tariff does not cover the cost of registration and vehicle tax. The price of registration for a foreign car depends on the car's value and category. - Cost of Customs When purchasing a new or second-hand car, be ready to invest substantial taxation or customs charges. In most cases, you will have to spend import duties of 60-100 per cent on new cars. However, this duty is significantly higher for second-hand cars, at 125 per cent.
What are the essential procedures for shipping Foreign Automobiles into India?
Anyone who imports a new or second-hand car into India must encounter the following procedures: - Taxes and Duties:- You must pay the customs duty in foreign currency. Beyond that, consider the additional customs and taxes to pay. We advise you to contact custom brokers for handling all money concerns. - Pre- Import Testing:- Whenever you purchase a vehicle from another country, ensure that it accompanies a testing certificate. This certificate declares the completion of necessary examinations in the nation before shipment to India.
- Post-Import Testing:-After the Indian port authorities acquire the car, they test it before driving on Indian road networks. After conducting the testing, the ports will provide a certificate of no disagreement.
- Import Entrance:-The import entrance for foreign cars will be through the ports of Mumbai, Chennai, and Kolkata.
- After-Import Maintenance:-The Indian Government also wants the car manufacturer to guarantee that their maintenance and services will also be accessible once imported.
Bottom LineAs we conclude this article, we hope that we have provided you with adequate guidance. You can acquire your foreign car to India with no issues if you use the principles indicated above. So, taking the help of these guidelines, you can proceed.