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 »
2y 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...
2y ago from espnF1.com

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

Grenoble, France:  Formula One legend Michael Schumacher remained...
2y 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...
2y 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...
2y ago from PlanetF1.com

Elsewhere On The Network

Popular On MGPToday.com

Rossi: Vinales will give me the same problems as...

Valentino Rossi admits that Maverick Vinales' speed in his first MotoGP...
1d ago from Motorsport.com

Carlo Pernat: Impressive Vinales is Lorenzo’s riding...

MotoGP powerbroker Carlo Pernat assesses the class rookies and those rider...
1d ago from BikeSportNews.com

Pedrosa signed up by Wasserman management group

Sports management company Wasserman has announced that from now on it will...
1d ago from Motorsport.com

Marquez: "This year the pressure made me feel...

Marc Marquez admits the pressure he faced this year on the way to his...
2d ago from Motorsport.com

Popular On IndyCarToday.com

IndyCar weekend formats set to change in 2017

The Verizon IndyCar Series is aiming to introduce a more consistent...
2h ago from Motorsport.com

Andretti Autosport confirms Sato for 2017

Takuma Sato will replace Carlos Munoz in the #26 Andretti Autosport-Honda...
6h ago from Motorsport.com

Sato joins Andretti Autosport for 2017

– Takuma Sato will make the switch to Andretti Autosport for 2017,...
6h ago from GPUpdate.net

Cindric: Earlier Indy 500 start would encourage more...

Team Penske president Tim Cindric says that the Indy 500’s noon start is...
1d ago from Motorsport.com

Popular On TotalWRC.com

Hyundai unveils its 2017 WRC challenger

Hyundai has become the first team to reveal the 2017-spec car it will...
1d ago from Motorsport.com

Competition: Win M-Sport WRC prizes

Advertising British-based M-Sport has been behind Ford's involvement in...
12h ago from WRC.com

Hyundai unveils 2017 WRC challenger

Advertising Drivers Thierry Neuville, Hayden Paddon and Dani Sordo...
1d ago from WRC.com

Hyundai launches its 2017 World Rally Car

Hyundai has become the first manufacturer to reveal its all-new 2017 World...
1d ago from EuroSport.com

Popular On GunnersToday.com

Arsene Wenger makes bold West Ham clash decision:...

GETTY Arsene Wenger will pick Ainsley Maitland-Niles or Gabriel Paulista...
3h ago from DailyStar.co.uk

Arsenal to make January swoop for West Ham United's...

Arsenal boss Arsene Wenger is ready to test West Ham United's resolve by...
3h ago from SportsMole.co.uk

Wenger: Jenkinson has lost his confidence

Arsene Wenger admits that Carl Jenkinson's confidence is low at the...
3h ago from News.ArseBlog.com

Arsene Wenger talks about Dimitri Payet, Arsenal boss...

Arsenal are reportedly plotting a January bid for West Ham United...
2h ago from CaughtOffside.com

Comments

Hottest News

Overview: Candidates to replace Rosberg

Following the shock news that Nico Rosberg will... Read More »
11h ago from GPUpdate.net

Why has Rosberg retired now?

Sky F1 pundits Martin Brundle and Ted Kravitz... Read More »
11h ago from SkySports.com

Could Alonso replace Rosberg at Mercedes?

Nico Rosberg's surprise retirement from Formula 1... Read More »
8h ago from ThisIsF1.com

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.