In India you will find many people who are fond of foreign vehicles. However, these are so expensive that common people are not able to buy them. In fact, if you order a car from abroad, you have to pay a huge tax along with the price of the car. This is the reason why the price of these foreign vehicles is very high in India. Let us know how foreign vehicles are brought to India and how much extra money has to be spent in bringing them from outside.
Which foreign vehicles are most in demand?
Lamborghini, Ferrari, Rolls Royce, Bentley, Ducati, MV Agusta, Tesla are some of the foreign vehicles whose demand is seen highest in India. However, these vehicles are so expensive that buying them is not within everyone’s reach. Let us tell you, if you want to import these foreign cars to India, then you can import them through CBU. CBU means Complete Built Unit. Actually, in the automobile sector, this term is used for importing into the country a car or motorcycle completely manufactured abroad.
Know the rules of import tax also
Now know the reasons why foreign cars are sold at such high prices in India. In fact, the government in the country charges 100 percent tax on imported cars priced above $40,000 (approximately Rs 30 lakh) and 60 percent tax on cars priced below this. Along with this, up to 50 percent tax has to be paid on luxury vehicles in the form of GST and 15 percent tax in the form of registration. Putting all this together, the price of foreign vehicles becomes much higher than their fixed price as soon as they reach India.
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