Revised Import Duty on Cars from 2018 August 01

[trish_auto]

 " Import Duty on vehicles less than 1000cc had been increased up to Rs. 1.5 million and hybrid and electric vehicles less than 1000cc up to Rs.1.25 mn  ".

Round of applause to finance minister. 

 

http://www.dailymirror.lk/article/Customs-Tax-amended-for-vehicles-less-than-cc-hybrid-electric-153435.html

 

[trish_auto]

Only model left unchanged is Suzuki Xbee.  

I think finance minister didn't know about this model. Otherwise he would have come up with a different equation.  

 

[tbird]

Well see the bright side, the tax amount of 990 CC, turbo charged models will go down from 232000/, earlier the tax was 1732000/-.

So the price of the Honda Civic and Audi A3, Q2 1l models should be reduced from at least 200,000

[tcfern1]

No tax reduction for non hybrids below 1000cc .confirmed by reliable sources in finance ministry

[trish_auto]

  On 8/1/2018 at 12:02 PM, tbird said:

Well see the bright side, the tax amount of 990 CC, turbo charged models will go down from 232000/, earlier the tax was 1732000/-.

So the price of the Honda Civic and Audi A3, Q2 1l models should be reduced from at least 200,000

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I was also wondering the same. But this revision didn't mention anything about the upper ceiling.  It only says minimum is Rs 1.5 m. According to the schedule before 01 Aug 2018, it was 1750 * 1000 = Rs. 1,750,000.00 .  If there is a upper ceiling from this revision, yes we can expect the non-hybrid 990 CC should be reduced by Rs.2.5 laks. 

Most impacted is hybrid 660cc (kei ) cars. tax increase is 660*1250 = Rs.825,000.00 from Rs. 1.25 m. 

 

[gada]

Is it confirmed that LCs opened on 1st August is taxed under the previous scheme? 

The original letter did mention like that where the date was manually written, but then I saw most media reporting that the date should be before 1st August.

[kush]

  On 8/1/2018 at 4:33 PM, trish_auto said:

I was also wondering the same. But this revision didn't mention anything about the upper ceiling.  It only says minimum is Rs 1.5 m. According to the schedule before 01 Aug 2018, it was 1750 * 1000 = Rs. 1,750,000.00 .  If there is a upper ceiling from this revision, yes we can expect the non-hybrid 990 CC should be reduced by Rs.2.5 laks. 

Most impacted is hybrid 660cc (kei ) cars. tax increase is 660*1250 = Rs.825,000.00 from Rs. 1.25 m. 

 

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No tax reductions as per the Gazette notice from the finance ministry

Tax will be Rs. 1.5 Mn. or Rs. 1,750 per 1cc which ever is higher

Non hybrid 1000 cc will continue to be taxed at Rs. 1.75 Mn. 

[trish_auto]

  On 8/2/2018 at 3:13 AM, kush said:

No tax reductions as per the Gazette notice from the finance ministry

Tax will be Rs. 1.5 Mn. or Rs. 1,750 per 1cc which ever is higher

Non hybrid 1000 cc will continue to be taxed at Rs. 1.75 Mn. 

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As  expected.