All goods are classified under each Heading appropriate to the goods to which they are most akin. The Customs Tariff 2007-2008 has categorized Motorcycles under Heading 8710 which states that Motorcycles (including Mopeds) and cycles fitted with reciprocating internal combustion piston engine of a cylinder capacity not exceeding or exceeding 50 cc are levied 40% Import Duty of Invoice Value excluding excise duty.
The following example will make it clear the overall taxation procedure and how much we pay as tax to the government.
This is an example of CBZ extreme that cost around INR 54,000.00- INR 56,000.00 which is the dealer price.
Price in India INR 54,000.00@1.6 NPR 86,400.00
Import Duty @ 40% NPR 34,560.00
Sub Total NPR 120,960.00
LDT (Local Development Tax @ 1.5%) NPR 1,814.40
Sub Total NPR 122,774.40
Excise Duty @ 10% NPR 12,277.44
Sub Total NPR 135,051.84
VAT @ 13% NPR 17,556.73
Total NPR 152,608.57
The above mentioned prices are subject to increase or decrease around NPR 10,000.00. Other charges like Freight loading charge at custom office, miscellaneous charges and excise duty when importing from India have been adjusted. This is a tentative figure, the general idea is to evaluate the tax system at different level.
As per the Vehicle Tax mentioned in Aarthik Atyadesh 2064 following tax are included:
During vehicle registration a bike customer has to pay NPR 4,000.00 as Road Construction, Maintenance Tax.
For Private Registered Motorcycle annual tax is as follows:
1. 90 Rs 500.00
2. 90cc-150cc Rs 1,000.00
3. 151cc-300 cc Rs 1,500.00
4. 301 cc and above Rs 2,000.00
(Source: Aarthik Atyadesh 2064, Customs Tariff 2007-2008), Syakar Company, Kantipath.
Article courtecy:
Pride@motobikenepal.Com
www.motobikenepal.com
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