News Details

Indian government amends tax laws to lure F1 back

The Indian government has taken steps to lure Formula 1 back to the country after the race was dropped from the 2014 calendar. One of the main sticking points, which has caused a great deal of hassle to the teams, was the governments view on F1, which it doesn't deem a sport and is therefore liable to pay import tax on any equipment it brings into the country. Despite numerous calls to change the law, it remained in place. However the Directorate General of Foreign Trade (DGFT) has now amended the policy relating to the 'importation of cars and motorcycles for use in motor racing events'. The change allows vehicles and equipment to be imported for a maximum of 30 days, after that time they...
Full Story »
1y ago from TheF1Times.com 0
Share

You May Also Be Interested In...

New Jersey venue could change

Sutton Images Enlarge Bernie Ecclestone has revealed that the venue for...
1y ago from espnF1.com

Michael Schumacher 'stable' but critical four days...

Grenoble, France:  Formula One legend Michael Schumacher remained...
1y ago from NDTVSports.com

F1 2014 – Ex-F1 drivers head to Formula E

A wave of ex-formula 1 drivers are making their way to “formula E”, a...
1y ago from F1.co.uk

Austrian circuit gets green light

It is all systems go for the return of the Austrian Grand Prix with the...
1y ago from PlanetF1.com

Elsewhere On The Network

Popular On MotoGPToday.com

Marquez: “I went to Ibiza with some friends”

A revitalized Marquez is ready to bring his best to the Brickyard, a...
3h ago from MotoGP.com

Rossi: “The first part went very well with nine...

A much needed break gave Rossi, the championship leader, a chance to...
2h ago from MotoGP.com

Crafty Rossi to play defence in second half of MotoGP...

MotoGP championship leader Valentino Rossi believes he will have to play...
2h ago from BikeSportNews.com

Lowes: “I am really happy to be starting again!”

Speed Up Racing’s Sam Lowes is excited to get back into action at the...
2h ago from MotoGP.com

Popular On IndyCarToday.com

MILLER: Let's call it 'Sage Gate'

Let's call it "Sage Gate" for lack of a better name but let's...
1d ago from Racer.com

Penske hands Piquet Jr. IndyCar test

– Formula E champion and ex-Formula 1 driver Nelson Piquet Jr. will...
21h ago from GPUpdate.net

IndyCar: RLL to finish season with single entry

The odds have been stacked against Rahal Letterman Lanigan Racing this...
15h ago from Racer.com

Rahal scores blistering win as Montoya stumbles

Hometown hero Graham Rahal has scorched to the finest win of his career...
2d ago from SpeedCafe.com

Popular On TotalWRC.com

Evans' spanner saves the day

The M-Sport driver was in sixth place on Friday morning when his Ford...
20h ago from WRC.com

First RX content pack hits Dirt Rally

From the press release, published today: From today, owners of DiRT Rally...

Gilbert targets Junior crown at home rally

Frenchman bids to secure Junior WRC title in Corsica
22h ago from WRC.com

Sordo disappointed with Finland showing

Hyundai's Dani Sordo was disappointed to only finish eleventh on Rally...
18h ago from Crash.net

Popular On GunnersToday.com

Surprise turnaround! Wenger has fans back on side &...

Morning all. Apart from the stories suggesting Jack Wilshere could miss a...

José Mourinho cools talk of John Stones deal, and...

José Mourinho has refused to rule out a new Chelsea bid for...
1h ago from TheGuardian.com

£32m Arsenal target claims manager is forcing him...

Mario Götze has been linked with a move away from Bayern Munich this...
1h ago from AllArsenal.com

Preparations, spamifcations, Akpominations

Good morning from a particularly miserable Dublin. I can't quite remember...
4h ago from Arseblog.com

Comments

comments powered by Disqus

Hottest News

Dennis: McLaren pace is ready to "light up"

Dennis came away from the Hungarian Grand Prix... Read More »
3h ago from Motorsport.com

Symonds slams Ferrari over Bottas rumours

Pat Symonds has hit out at Ferrari, accusing the... Read More »
3h ago from ThisIsF1.com

Honda: We didn t imagine F1 comeback to be so hard

Yasuhisa Arai admits Honda didn't expect to be... Read More »
2h ago from Crash.net

Recent News

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.