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

Espargaro Retains Practice Lead in Argentina

Aleix Espargaro kept Suzuki at the top of the MotoGP practice timesheets...

Friday roundup from Argentina

No description available...

Rossi: “The big issue is the tyres”

Movistar Yamaha’s Valentino Rossi completed the first day of practice...
7h ago from MotoGP.com

Redding sets best time on new extra-hard Bridgestone...

Scott Redding clocked his best time in Argentina during the opening day...
7h ago from Crash.net

Popular On IndyCarToday.com

IndyCar: Will Power tops tight battle in FP2 at Long...

Don't miss a thing at the 41st Toyota Grand Prix of Long Beach. Get the...
4h ago from Racer.com

Alesi takes double pole on car racing debut

Giuliano Alesi, the 15-year-old son of former Ferrari Grand Prix star...
9h ago from Motorsport.com

IndyCar: Dixon leads Ganassi 1-2 in Long Beach FP1

Scott Dixon, who hasn’t won on this track since the Indy Lights race in...
7h ago from Racer.com

Moran to replace Huertas at Long Beach

Dale Coyne Racing has announced that Carlos Huertas will not be competing...
10h ago from Crash.net

Popular On TotalWRC.com

Rally Argentina: Event timetable

Complete event timetable for Rally Argentina, the fourth round out of 13...
15h ago from Crash.net

Lappi heads Skoda WRC 2 challenge

European champion Esapekka Lappi will step up to head the Czech...
17h ago from WRC.com

Hyundai brings paddles to Argentina

And they'll get to use them a lot, in those water splashes. Now, after...
19h ago from WorldRallyBlog.c...

Bryan Herta Autosport expands into GRC

Former IndyCar driver will field two teams with Sandell and Dyne as...
1d ago from Motorsport.com

Popular On GunnersToday.com

Scholes Admits Di Maria’s Arsenal Red Card Helped...

It has been reported that Paul Scholes believes Manchester United’s...
3h ago from Nastytackle.com

Aaron Ramsey not giving up on Arsenal FA Cup, Premier...

Aaron Ramsey has insisted that an FA Cup and Premier League double is...
5h ago from SportsMole.co.uk

Ramsey - Let's work first, then play

Aaron Ramsey says Arsenal must match Reading’s intensity and...
7h ago from Arsenal.com

Five players that have returned to haunt their former...

As Juan Mata prepares for a return to Stamford Bridge and a reunion with...
8h ago from CaughtOffside.com

Comments

comments powered by Disqus

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.