In what is sure to bring cheer to vintage and classic car enthusiasts, the government of India has relaxed its vintage car import policy. Previously, only cars built before 1950 could be imported. However, under the new relaxed norms, cars that are 50 years old (or older) are eligible for ‘licence-free import.’ So, this year, cars built up to 1975 are eligible, extending the permitted import period from pre-1950 to 1975 and covering an additional 25 years of the automobile history.
- These vintage cars can be imported by their actual users
- Resale of these vehicles is strictly prohibited
Furthermore, the 50-year limit is on a rolling basis, meaning that cars built up to 1976 would be eligible next year, and so forth. The exact date to determine the vehicle’s age will be from the date of its first registration after the initial sale. Iconic classics from brands like Mercedes, Jaguar, Porsche and American muscle cars are among the notable examples.
Is the import of vintage and classic cars completely free?
No, there are fees to be paid. The import is only licence-free, which implies the actual users don’t need an import licence, and they can now bring in these cars after paying the stated duties and fees. Customs duty, GST and registration all together work out to about 250 percent of the car’s invoice (traded) value.
What are the restrictions on the usage of these cars?
The Directorate General of Foreign Trade has strictly prohibited the resale of imported vintage cars in the Indian domestic market, stating that these cars must be for personal use and cannot be traded in any form whatsoever. It further noted that if someone resells these vehicles, stricter conditions, such as a five-year no-sale rule, could be introduced in the future. Also, cars intended for use on public roads must comply with the Motor Vehicles Act, 1988, and the Central Motor Vehicles Rules, 1989.
The policy is a significant move for vintage car collectors in India and is also expected to create more employment opportunities for restorers.
Also, see:
Import of cars made before 1950 allowed
Mercedes Benz Classic Car Rally
