Import Tax Slashed By 50%

[SHANNON]

Hw abt this.

If the second hand sellers in large numbers cease to sell their vehicles temporarily (in order to avoid a loss). There would be a short supply of available second hand cars, rite?. Practically not everybody will buy a brand new/recon vehicle.

e.g if i wanna buy an EK3, i cant get it imported can I?

so if the demand for 2nd hand cars become greater than the supply, there's still hope for sellers to demand a good price to a certain extent I dnt know just had a thought....

[Elvis_Pil]

I guess its an eye opener that there are not enough S classes in the Country:P apparently they were offering private owners free tickets and stuff to lend out their cars for the awards.. as if!

  Pericles said:

Again, I thought the campaign premise for the current bunch is "we don't give a damn about the international community".

I thought about this IIFA scenario. Not sure it makes sense. For one thing, its next week, they can't order an ship a bunch of cars in that time. Unless they have a stock in the port that just needs to be cleared (wouldn't put it past our ..... boys ... to try something like that, actually). Also, I'm not sure, is this a blanket reduction? The IIFA ppl are looking specifically for S class. There is still luxury taxes on those. And I'm not sure, but I thought someone said this was for below 1.6? I actually want to get that clarified.

Unless the stars go about in Maruti Esteems and the Indians have a shipment waiting to be sent over

[kotte mafia]

any idea on the spare parts market ....? will the prices go down on spare parts .... ???

[podilamaya]

Hi,

i got following info from Agent

Uploaded with ImageShack.us

Hope this is ture

Edited June 2, 2010 by podilamaya

[Pericles]

  L board said:

http://www.autolanka.com/ad.asp?ID=27346

Rs 1,890,000.00

Again Beetles singing dream dream dream dream dream dream....

Hellooooo. This vehicle is now worth only Rs 1,000,000.00

Dude, the current crop of cars on the classifieds were probably all received before this tax cut, and ppl aren't going to change the advert so quickly. So pls don't criticize the current set of advertisers. Just coz the govt cut taxes doesn't mean that everyone adjusted prices on everything overnight. It takes time.

[Pericles]

  Elvis_Pil said:

I guess its an eye opener that there are not enough S classes in the Country:P apparently they were offering private owners free tickets and stuff to lend out their cars for the awards.. as if!

I'd want a better package than just a ticket. A much better package..... Hey a man can dream right?!

[fuzzo]

  Elvis_Pil said:

I guess its an eye opener that there are not enough S classes in the Country:P apparently they were offering private owners free tickets and stuff to lend out their cars for the awards.. as if!

actually there are plenty of S classes around but no one wants to give them out for the 100k they were offering

[kalana]

yai!!!! prices will go down!!!

it wont go down by 50% but atleast there will be 10%-20% difference i think...

[Nitro]

  podilamaya said:

Hi,

i got following info from Agent

Uploaded with ImageShack.us

Hope this is ture

above calculation is totally wrong,you need to know the excise duty % which is only a one component of the total duty that add to end value of the vehicle

Edited June 2, 2010 by Nitro

[L board]

  royalkalana said:

yai!!!! prices will go down!!!

it wont go down by 50% but atleast there will be 10%-20% difference i think...

30-40% is my guess.

[Thanushka]

What a hell guys I called Unit#d Mot#rs and CarMart, following R the prices I recived

Mitsu L200 Previously 11 mil, now 9 mil.

Mitsu montero sports diesel now 12 mil.

Mazda 3 previously 8.5 mil, now 6.5 mil.

Looks like after all sellers have kept a larger profit margin and buying a vehicle would still be a dream.

[L board]

  Pericles said:

Dude, the current crop of cars on the classifieds were probably all received before this tax cut, and ppl aren't going to change the advert so quickly. So pls don't criticize the current set of advertisers. Just coz the govt cut taxes doesn't mean that everyone adjusted prices on everything overnight. It takes time.

What makes me laugh is that some people are now quoting prices even higher than the price during last week.

[milindu]

  fuzzo said:

actually there are plenty of S classes around but no one wants to give them out for the 100k they were offering

Sorry for going OT

The offer was 100k for the car for 6 days of hire plus tickets for the Cricket Match. Perhaps they offered other ticket packages as things got desperate.

There are about 30 cars running for the VVIP with some that have been given free and most of them hired out.

While there weren't enough S-Classes, they settled for E-Classes, 5 Series, Chryslers etc.

Back to the Topic...

A Corolla Axio to come down by about 4-700k provided the auction prices remain the same (heard that the auction prices are already up). So very expensive new cars will become still quite expensive new cars.

So I'm guessing the registered cars will drop down to the late 2009 prices. You have to keep in mind that Toyota 121/ Nissan FB 15 and Mazda 323 type cars fall outside the 3.5 year import restriction.

[shanX]

  SHANNON said:

Hw abt this.

If the second hand sellers in large numbers cease to sell their vehicles temporarily (in order to avoid a loss). There would be a short supply of available second hand cars, rite?. Practically not everybody will buy a brand new/recon vehicle.

e.g if i wanna buy an EK3, i cant get it imported can I?

so if the demand for 2nd hand cars become greater than the supply, there's still hope for sellers to demand a good price to a certain extent I dnt know just had a thought....

That's the point, there's a restriction on YOM for car imports

[Ripper]

  Pericles said:

I'd want a better package than just a ticket. A much better package..... Hey a man can dream right?!

[Ripper]

repeat post

Edited June 2, 2010 by Ripper

[rangerover]

  L board said:

30-40% is my guess.

20% - 30% depending on the value of the car.

[L board]

You can see today AL is getting flooded with new advertisements. The natural phenominan is happening. The supply is increasing but no one wants to buy now. So the price crash is imminent.

[VWvortex]

http://www.customs.gov.lk/crdtc2/HSCODES_list.asp

There is a useful calculater here. search for 'motor' to find the right HScodes and then adjust the excise duty component accordingly...

according to this, even if its only the excise duty that is reduced a MAJOR reduction on the final price can be seen!!

Hope im not wrong

[Killer-B]

  shanX said:

That's the point, there's a restriction on YOM for car imports

People who are eligible to gift permits/blue permits will have a good chance of importing a car....

They are allowed to import a 10 year old car......

[Ekendra Edrisinghe]

I got this information from a Bank. Not sure if its correct though.

Diesel Car 1600cc to 2000 cc

CIF Value RS 1,600,000/- + Previous Duty 8,154,266.00

+ New Duty 4,492,216.00

Petrol car 1600 cc upto 2000 cc

CIF- Rs 1,350,000/=, - Previous Duty + CIF Value 4,634,585.00

New Duty + CIF Value 2,703,177.00

Petrol Car 1000cc to 1500 cc

CIF- Rs 1,200,000/=, - Previous Duty + CIF Value 3,469,248.00

New Duty + CIF Value 2,166,052.00

[VWvortex]

a

Edited June 2, 2010 by VWvortex

[lasi]

  Ekendra Edrisinghe said:

I got this information from a Bank. Not sure if its correct though.

Diesel Car 1600cc to 2000 cc

CIF Value RS 1,600,000/- + Previous Duty 8,154,266.00

+ New Duty 4,492,216.00

Petrol car 1600 cc upto 2000 cc

CIF- Rs 1,350,000/=, - Previous Duty + CIF Value 4,634,585.00

New Duty + CIF Value 2,703,177.00

Petrol Car 1000cc to 1500 cc

CIF- Rs 1,200,000/=, - Previous Duty + CIF Value 3,469,248.00

New Duty + CIF Value 2,166,052.00

Awasome

[lasi]

QUOTE (Killer-B @ Jun 2 2010, 03:43 PM) <{POST_SNAPBACK}>

People who are eligible to gift permits/blue permits will have a good chance of importing a car....

They are allowed to import a 10 year old car......

Somebody is selling his Vios for 1.5 Mn;;;; #####

http://www.#####.com/carsforsale.php

Edited June 2, 2010 by lasi

[Edward]

  Ekendra Edrisinghe said:

I got this information from a Bank. Not sure if its correct though.

Diesel Car 1600cc to 2000 cc

CIF Value RS 1,600,000/- + Previous Duty 8,154,266.00

+ New Duty 4,492,216.00

Petrol car 1600 cc upto 2000 cc

CIF- Rs 1,350,000/=, - Previous Duty + CIF Value 4,634,585.00

New Duty + CIF Value 2,703,177.00

Petrol Car 1000cc to 1500 cc

CIF- Rs 1,200,000/=, - Previous Duty + CIF Value 3,469,248.00

New Duty + CIF Value 2,166,052.00

Hi Guys,

There is a talk going on, this is not going to be forever. & they may change this to the previous way in the next budget.