1
The Budget slashed
customs duty
not just for big motorcycles with engines above 1,600cc, but even in case of smaller ones, offering relief to those buying imported Honda, Suzuki, Ducati and KTMs. The fully built units will now face 40% customs duty instead of 50% earlier.
For 1,600cc motorcycles and above, customs duty was cut from 50% to 30% for fully built
imported bikes
and by five percentage points for those being shipped in semi-knocked-down kits (now 20%), and completely knocked down (10%).
Headline customs duty on imported cars costing upwards of $40,000 (around Rs 35 lakh) was cut from 125% to 70%. But with an agriculture cess of 40%, instead of the earlier 10% surcharge, the cumulative duty remains 110%.
