Final Cost Calculation Formula
To summarize, the total cost of importing a vehicle can be calculated using the following formula:
Total Import Cost = CIF Value + CID + PAL + Excise Duty + Luxury Tax + VAT
Example Cost Breakdown
| Item | Calculation | Amount |
|---|---|---|
| CIF Value | - | XXX |
| CID (30% of CIF) | CIF × 30% | XXX |
| Excise Duty | (Depends on multiple factors) | XXX |
| Luxury Tax | (If CIF exceeds Rs. 5M, depends on fuel consumption and vehicle type) | XXX |
| VAT (18% on CIF + CID + PAL) | (CIF + CID ) × 18% | XXX |
| Total Cost | Sum of all above | XXX |
