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India revises customs duties in attempt to boost F1 return

The Indian Government has announced a change to the way that customs duties are to be levied on equipment being brought in and out of the country for motorsports events.The change comes after Indian Grand Prix promoters Jaypee Sports ended up having to pay out for levies in previous years, after the government had refused to differentiate between team cars and equipment being brought into the country for the event from any other general goods and merchandise being imported for sale.On Wednesday, India's Directorate General of Foreign Trade announced that in future the promoter would be able to execute a secured bond with the Customs authorities guaranteeing that all the equipment left the...
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