The government of India has revised its import policy for classic cars. With this, import of vehicles aged 50 years or older will now be possible, whereas previously, only cars built before 1950 were eligible for import into the country.
Cars manufactured up to 1975 can be imported under the revised policy. The 50-year limit is on a rolling basis, which means next year, cars built up to 1976 will be eligible. The age of the vehicle will be determined by the date it was first registered.
Customs duty, GST, and registration fees will be levied on all vehicles imported into the country. This comes to around 250% of the car’s invoice value.
As per the Directorate General of Foreign Trade (DGFT), resale of imported cars is banned, and any attempt to resell the vehicles could lead to stricter conditions being introduced in the future. The DGFT has also warned of a 5-year no-sale rule if dealers don’t comply.
Vintage cars are subject to the Motor Vehicles Act 1988 and Chapter 3A of the Central Motor Vehicles Rules, 1989.
