New law allows import of classic cars 50 years and older: Here's what to know

Import of classic cars 50 years and older now allowed: Fans of vintage cars have cause for celebration! Collectors may now more easily transport vintage beauties home according to a new law that permits the importation of cars that are 50 years or older.

Classic automobile enthusiasts can now acquire and restore ancient cars thanks to a change in legislation that previously made it difficult to import older vehicles.

This new regulation opens up intriguing possibilities, whether it's a classic Japanese automobile, a rare European vintage, or an American muscle car that has stood the test of time.

According to experts, this will assist preserve automotive heritage and grow the market for vintage cars. Now can be the ideal time to begin your search and turn your goal of owning a genuine vintage vehicle into a reality!

Import of cars older than 50 years now legal in India

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The Indian government has loosened its import restrictions on vintage cars, which will surely please fans of these vehicles. Previously, only automobiles manufactured before 1950 were permitted to be imported; however, under the recently loosened regulations, vehicles 50 years of age or older can now be imported "licence-free."

This extension of the allowed import era from pre-1950 to 1975, which covers an additional 25 years of automobile history, means that cars constructed up to 1975 are acceptable for import this year.

Additionally, cars manufactured until 1976 would be eligible the following year because the 50-year limit is applied on a rolling basis. The vehicle's first registration date following its original sale will be used to calculate its age. Notable examples include American muscle vehicles and iconic classics like Mercedes, Jaguar, and Porsche.

Can vintage and classic cars be imported for free?

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No, there are costs involved. The import is solely license-free, meaning that after paying the specified duties and fees, the users can now bring these cars into the country without requiring an import license. Customs duty, GST, and registration amount to almost 250 percent of the car's invoice (traded) value.

Do these cars have any restrictions on their use?

Reselling these imported vintage cars on the Indian domestic market is expressly forbidden by the Directorate General of Foreign Trade, which also states that the vehicles must be used for personal purposes and cannot be exchanged in any way.

It also mentioned that tougher restrictions, such as a five-year no-sale rule, might be implemented if someone resells these cars. Additionally, vehicles meant for use on public roads have to abide by the Central Motor Vehicles Rules of 1989 and the Motor Vehicles Act of 1988.

For Indian enthusiasts of old cars, the policy is a big step. Additionally, more job prospects for restorers will result from it.

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