News

Small Car Import Duty Increased

Summary

Prices to rise by Rs. 100,000 to Rs. 400,000

Updated on : 07-08-2018


Small Car Import Duty Increased

The import duty on vehicles with an engine capacity less than 1000 cc has been revised from 01st August 2018. Accordingly, the Unit Rate Tax for normal vehicles with an engine capacity less than 1000 cc will be increased upto Rs.1.5 million. For hybrid vehicles with an engine capacity less than 1000 cc, the Unit Rate Tax will be increased up to Rs.1.25 million. However, this unit rate tax revision will not be applicable to vehicles for which Letters of Credit (LC) have been issued prior to August 1, 2018 and vehicles released by the Customs before January 31, 2018.

Vehicles imported during this period will be subject to the earlier import duty depending on the engine capacity.

Vehicle importers commenting on the latest duty increase said that prices of motor vehicles with an engine capacity less than 1000 cc will be increased by Rs.100,000 while the hybrid vehicles with an engine capacity less than 1000 cc will be raised by Rs.400,000 due to this duty increase.

 

Source: Daily News (Click here)

 


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Tariff & Other Taxes Update Table

Types of Tariff and other taxes

Issued date

GEN

23/04/2021

Preferential Import Duty

23/04/2021

PAL

02/09/2020

CESS

17/11/2020

VAT

01/12/2019

Excise

22/08/2020

SCL

27/04/2021

DWV 17/09/2020

 

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