Pkrevenue.com

Author: Faisal Shahnawaz

  • Rupee falls by nine paisas against dollar

    Rupee falls by nine paisas against dollar

    KARACHI: The Pak Rupee fell by another nine paisas against dollar on Friday amid foreign currency demand for import and corporate payments.

    The rupee ended at Rs139.28 to the dollar from previous day’s closing of Rs139.19 in interbank foreign exchange market.

    The interbank foreign exchange market was initiated in the range of Rs139.15 and Rs139.20.

    The market recorded day high of Rs139.30 and low of Rs139.18 and closed at Rs139.28.

    Currency experts said that higher demand and the government indication for entering to new IMF loan programs pressurized the local unit.

    The rupee lost 38 paisas a day earlier in the interbank foreign currency market.

    The exchange rate in open market was remained stable.

    The buying and selling of dollar was recorded at Rs138.80/Rs139.30, the same previous day’s level, in cash ready market.

    Related Stories
    Rupee sheds 38 paisas against dollar

  • FBR extends last date for filing return up to March 31

    FBR extends last date for filing return up to March 31

    ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing income tax returns and wealth statements up to March 31, 2019, which will enable the late filers to become part of active taxpayers list.

     FBR issued Circular 02/2019 on Friday and extended the last date for salary persons and final taxations which was due on August 31, 2018 and extended up to December 15, 2018 has been further extended up to March 31, 2019.

     The date of filing of returns of total income and statement of final taxation for companies, individuals and association of persons which were due on September 30, 2018 and extended up to December 15, 2018 has been extended up to March 31, 2019.

     Further the date of filing of returns of total income and statement of final taxation for companies which were due on December 31, 2018 has been further extended to March 31, 2019.

  • Banks may verifying goods for manual import payment

    Banks may verifying goods for manual import payment

    KARACHI: Banks shall be required to verify valuation of goods before approving electronic or manual import payment in order to prevent incidents of money laundering and terror financing.

    According to draft “Framework for Managing Risks of Trade Based Money Laundering, Terrorist Financing and Proliferation Financing” issued by State Bank of Pakistan (SBP) banks shall make a reasonable effort to verify the prices of underlying contracts as declared on EIF/MIF, EFE/MFE from reliable sources i.e. local business circles, daily newspaper, Internet, historic appraisements, Customs valuation rulings etc. and shall satisfy themselves that the prices declared by their client represent the fair market value of goods before approving an EIF/MIF, EFE/MFE.

    In the draft framework, the SBP said that transferring value through legitimate trade transactions has become increasingly attractive avenue for money launderers, terrorist financiers and proliferation financiers, as they are able to easily obscure their transactions in significant volumes of international trade and escape detection.

    “The main methods by which such people transfer value through legitimate trade transactions are under invoicing, over invoicing, short/over shipment, obfuscation of type of goods/services etc.” it said.

    As the international trade is becoming highly vulnerable to ML/TF/PF risks, effective regulatory framework is required to mitigate the misuse of trade transactions.

    The SBP said that the document contains instructions that shall help banks in effectively managing ML/TF/PF risks.

    However, it may not be construed as exhaustive list of measures for curbing TBML.

    Further, the compliance of the provisions of this framework does not absolve ADs from their legal and regulatory obligations under prevailing AML/CFT/CPF laws/rules and regulations or any other relevant law for the time being in force.

    The prime objective of this framework is to strengthen the trade related AML/CFT/CPF regime and conserve foreign exchange.

    This framework applies to all banks authorized by SBP to deal in foreign exchange.

    Bank’s AML/CFT/CPF Policies

    i. ADs shall emphasize on the overall trade related risks in their AML/CFT/CPF and relevant trade business guidelines, policies and procedures.

    Such policies and procedures should, inter alia, specify:

    a) Screening procedure of customers for trade transactions

    b) Procedure for identification and monitoring of trade transactions with related party.

    c) Procedure for complete risk profiling of customers involved in or intending to be involved in trade.

    d) Procedure for verification of prices of underlying contracts related to import/export of services.

    e) Procedure for handling descriptions, which are unclear, coded or worded in a language other than English.

    f) Screening procedure of goods being traded as per relevant Trade Policy

    g) Procedure for Identification of dual use of goods such as:

    Price related Due Diligence

    i. Banks shall define clear policies and procedures for price verification, including defining the level of acceptable price variance, escalation procedures and suspicious transaction reporting mechanism when significant differences in prices are identified.

    ii. Banks shall make a reasonable effort to verify the prices of underlying contracts as declared on EIF/MIF, EFE/MFE from reliable sources i.e. local business circles, daily newspaper, Internet, historic appraisements, Customs valuation rulings etc. and shall satisfy themselves that the prices declared by their client represent the fair market value of goods before approving an EIF/MIF, EFE/MFE.

    iii. In case of advance payment export, Banks shall satisfy themselves, before disbursing the amount to the exporter, that price declared on Advance Payment Voucher represents the fair market value of goods or services. In this respect, banks shall require the exporter to submit a copy of underlying sale contract alongwith revised Appendix V-14.

    iv. The procedure of price verification shall be documented by banks for later review /audit/inspection.

    v. In order to enhance the effectiveness, this function shall be performed by the department other than the front office/centralized trade-processing unit where transaction is taking place.

    vi. The significant variance between prices declared on EIF/MIF, EFE/MFE, Advance Payment Voucher and fair market value of goods declared therein shall serve as one of the prime red flag indicators and all such transactions shall be escalated to the higher management which shall review the same and consider the option of filing STR with FMU etc. This procedure shall be documented by banks for later review /audit/inspection.

    vii. Further, banks shall develop the detailed scenarios of other trade related red flag indicators. A non-exhaustive list of common red flag indicators is also provided for guidance.

  • Income Tax Ordinance 2001: advance tax on domestic, international air tickets

    Income Tax Ordinance 2001: advance tax on domestic, international air tickets

    KARACHI: Passengers traveling through domestic or international airlines are required to pay certain amount of advance tax on purchase of air tickets.

    According to Income Tax Ordinance, 2001 issued by Federal Board of Revenue (FBR) passengers of domestic and international destinations are required to pay advance tax under Section 236B and Section 236L.
    Section 236B: Advance tax on purchase of air ticket.

    Sub-Section (1): There shall be collected advance tax at the rate specified in Division IX of Part IV of the First Schedule, on the purchase of gross amount of domestic air ticket:

    (The rate of tax to be deducted under section 236B shall be 5 percent of the gross amount of air ticket.)

    “Provided that this section shall not apply to routes of Baluchistan coastal belt, Azad Jammu and Kashmir, Federally Administered Tribal Areas, Gilgit-Baltistan and Chitral.”

    Sub-Section (2): The airline issuing air ticket shall charge advance tax under sub-section (1) in the manner air ticket charges are charged.

    Sub-Section (2A): The mode, manner and time of collection shall be as may be prescribed.

    Sub-Section (3): The advance tax collected under sub-section (1) shall be adjustable.

    Section 236L: Advance tax on purchase of international air ticket
    Sub-Section (1): Every airline, issuing ticket for journey originating from Pakistan, shall collect advance tax at the rates specified in Division XX of Part IV of the First Schedule, on the gross amount of international air tickets issued to passengers booking one-way or return, from Pakistan.
     

    01First/Executive ClassRs16,000 per person
    02Other excluding EconomyRs12,000 per person
    03Economy0

     
    Sub-Section (2): The airline issuing air ticket shall collect or charge advance tax under sub-section (1) in the manner air ticket charges are collected or charged, either manually or electronically.

    Sub-Section (3): The mode, manner and time of collection under sub-section (1) and time of collection shall be as may be prescribed.

    Sub-Section (4): The advance tax collected under sub-section (1) shall be adjustable.

  • FBR transfers 53 BS-19 customs officers in major reshuffle

    FBR transfers 53 BS-19 customs officers in major reshuffle

    ISLAMABAD: Federal Board of Revenue (FBR) in a major reshuffle on Thursday transferred 53 BS-19 officers of Pakistan Customs Service (PCS) with immediate effect and until further orders.

    Following officers have been transferred and posted:

    01. Shafqat Ali Khan Niazi (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Risk Management, Karachi from the post of Additional Collector, Model Customs Collectorate of Exports, Karachi.

    02. Basit Maqsood Abbasi (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Preventive, Lahore from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    03. Ms. Sadia Munib (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Lahore from the post of Additional Director, Directorate of Post Clearance Audit, Lahore.

    04. Syed Fawad Ali Shah (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Port Muhammad Bin Qasim, Karachi from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    05. Masood Ahmed (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Exports (Port Muhammad Bin Qasim), Karachi from the post of Additional Collector, Model Customs Collectorate of Appraisement (East), Karachi.

    06. Sanaullah Abro (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate (JIAP), Karachi from the post of Additional Collector, Model Customs Collectorate of Preventive, Karachi.

    07. Syed Naeem Akhtar (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Hyderabad from the post of Additional Director, Directorate of Post Clearance Audit, Karachi.

    08. Muhammad Tahir (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Director, Directorate General of Customs Valuation, Karachi.

    09. Ms. Nyma Batool (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement (East), Karachi from the post of Additional Director, Directorate of Transit Trade, Quetta.

    10. Yousaf Haider Orakzai (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Collectorate of Customs (Adjudication), Islamabad (based at Peshawar) from the post of Additional Collector, Model Customs Collectorate, Gilgit-Baltistan.

    11. Munib Sarwar (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Customs Valuation, Lahore from the post of Additional Collector, Model Customs Collectorate of Appraisement, Lahore.

    12. Muhammad Ismail (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Transit Trade, Quetta from the post of Additional Collector, Model Customs Collectorate of Port Muhammad Bin Qasim, Karachi.

    13. Qasim Hafeez Cheema (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Post Clearance Audit, Lahore from the post of Additional Director, Directorate General of Internal Audit (Customs), Islamabad.

    14. Farrukh Sajjad (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Post Clearance Audit, Karachi from the post of Additional Collector, Model Customs Collectorate of Appraisement (West), Karachi.

    15. Ms. Saira Agha (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement, Lahore from the post of Additional Director, Directorate of Input Output Coefficient Organization (North), Lahore.

    16. Ms. Ayesha Niaz (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Rawalpindi from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    17. Ms. Zeb Gul Shabbir (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Collectorate of Customs (Adjudication), Lahore from the post of Additional Director, Directorate of IPR Enforcement (Central), Lahore.

    18. Ms. Nasreen Nawaz (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Lahore from the post of Additional Director, Directorate of Training & Research (Customs), Lahore.

    19. Shoukat Ali (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Collector, Model Customs Collectorate of Appraisement (East), Karachi.

    20. Abid Hussain Hakro (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Quetta from the post of Additional Director, Directorate of IPR Enforcement (South), Karachi.

    21. Jameel Ahmed Baloch (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Preventive, Quetta from the post of Additional Collector, Model Customs Collectorate of Preventive, Karachi.

    22. Arbab Qaisar Hamid (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement, Peshawar from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    23. Ms. Zahra Haider (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Multan from the post of Additional Collector, Collectorate of Customs (Adjudication), Lahore.

    24. Agha Saeed Ahmed (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Collector, Model Customs Collectorate of Appraisement (West), Karachi.

    25. Ghulam Mustafa (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Preventive, Peshawar from the post of Additional Collector, Model Customs Collectorate, Faisalabad.

    26. Ms. Sameera Sheikh (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of IPR Enforcement (Central), Lahore from the post of Additional Director, Directorate of Input Output Coefficient Organization (North), Lahore.

    27. Ms. Beelam Ramzan (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Office of the Chief Collector of Customs (Central), Lahore from the post of Additional Collector, Collectorate of Customs (Adjudication), Lahore.

    28. Muhammad Haris Ansari (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate General of Customs Valuation, Karachi from the post of Additional Director, Directorate of Reforms and Automation (Customs), Karachi.

    29. Taimoor Kamal Malik (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Lahore from the post of Additional Director, Directorate of Internal Audit (Customs), Lahore.

    30. Muhammad Arshad Khan (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Office of the Chief Collector of Customs (North), Islamabad from the post of Additional Director, Directorate General of Post Clearance Audit, Islamabad.

    31. Ms. Ayesha Bashir Wani (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate, Islamabad from the post of Additional Collector, Chief Collector Customs (North), Islamabad.

    32. Ms. Mona Aslam (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate, Sialkot from the post of Additional Director, Directorate of Intelligence & Investigation, FBR, Lahore.

    33. Nisar Ahmad (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate General of Post Clearance Audit, Islamabad from the post of Additional Collector, Model Customs Collectorate, Islamabad.

    34. Naveed Iqbal (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Collectorate of Customs (Adjudication), Quetta from the post of Additional Collector, Model Customs Collectorate of Appraisement (West), Karachi.

    35. Muhammad Ahsan Khan (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement, Peshawar from the post of Additional Collector, Model Customs Collectorate, Peshawar.

    36. Tasleem Akhtar (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Director, Directorate of Internal Audit (Customs), Karachi.

    37. Muhammad Farukh Sharif (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Collector, Model Customs Collectorate of Preventive, Lahore.

    38. Yasin Murtaza (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement, Quetta from the post of Additional Collector, Model Customs Collectorate of Port Muhammad Bin Qasim, Karachi.

    39. Omar Shafique (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Preventive, Karachi from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    40. Muhammad Mumtaz Ali Raza Chaudhry (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Input Output Co-efficient Organization (North), Lahore from the post of Additional Director, Directorate of Intelligence & Investigation, FBR, Lahore.

    41. Amer Rashid (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Exports, Custom House, Karachi from the post of Additional Director, Strategic Control Division, Ministry of Foreign Affairs, Islamabad.

    42. Ms. Mona Mehfooz (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Exports (Port Muhammad Bin Qasim), Karachi from the post of Additional Collector, Model Customs Collectorate of Appraisement (East), Karachi.

    43. Ms. Sadia Sadaf (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Post Clearance Audit, Karachi from the post of Additional Collector, Collectorate of Customs (Adjudication-II), Karachi.

    44. Abbas Ali Babar (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Collector, Chief Collector Customs (Central), Lahore.

    45. Zubair Shah (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement (West), Karachi from the post of Additional Collector, Model Customs Collectorate, Quetta.

    46. Jehan Bahadar (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Transit Trade, Peshawar from the post of Additional Collector, Collectorate of Customs (Adjudication), Islamabad.

    47. Shafiq-ur-Rehman (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Appraisement (East), Karachi from the post of Secretary, Federal Board of Revenue (Hq), Islamabad.

    48. Shahid Jan (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate, Gilgit-Baltistan from the post of Additional Director, Directorate of Intelligence & Investigation, FBR, Rawalpindi.

    49. Salman Afzal (Pakistan Customs Service/BS-19) has been transferred and posted as Secretary, Federal Board of Revenue (Hq), Islamabad from the post of Additional Collector, Model Customs Collectorate of Port Muhammad Bin Qasim, Karachi.

    50. Ather Naveed (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Strategic Control Division, Ministry of Foreign Affairs, Islamabad from the post of Additional Collector, Model Customs Collectorate, Islamabad.

    51. Honnak Baloch (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate of Port Muhammad Bin Qasim, Karachi from the post of Additional Director, Directorate General of Customs Valuation, Karachi

    52. Ataullah Shabbir (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Intelligence & Investigation,FBR, Gwadar from the post of Additional Collector, Collectorate of Customs (Adjudication-I), Karachi.

    53. Muhammad Tayyab (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Transit Trade, Peshawar from the post of Additional Collector, Collectorate of Customs (Adjudication), Islamabad.

    The FBR said that the officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting.

  • Foreign exchange reserves flat at $14.966 billion

    Foreign exchange reserves flat at $14.966 billion

    KARACHI: The foreign exchange reserves were flat at $14.966 billion by week ended March 08, 2019, State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves of the country increased by $10 million to $14.965 billion as compared with $14.956 billion a week ago.

    The reserves held by SBP also increased by $6 million to $8.122 billion by week under review from $8.116 billion a week ago.

    The reserves held by commercial banks posted $4 million increase to $6.843 billion from previous week’s level of $6.839 billion.

    Pakistan’s foreign exchange reserves increase by $140 million to $14.956 billion

  • Equity market ends down by 120 points

    Equity market ends down by 120 points

    KARACHI: The equity market ended down by 120 points in narrow trading activities on Thursday. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,808 points as against 38,929 points showing a decline of 120 points.

    (more…)
  • Rupee sheds 38 paisas against dollar

    Rupee sheds 38 paisas against dollar

    KARACHI: The Pak Rupee lost 38 paisas against dollar on Thursday after indication of the government for entering IMF program.

    The rupee ended Rs139.19 to the dollar from previous day’s close of Rs138.81 in interbank foreign exchange market.

    The interbank foreign exchange market was initiated in the range of Rs138.92 and Rs138.99.

    The market recorded day high of Rs139.25 and low of Rs138.95 and closed at Rs139.19.

    A day earlier the finance minister hinted at entering into a new loan program with IMF.

    The exchange rate in open market also revised downward.

    The buying and selling of dollar was recorded at Rs138.70/Rs139.20 from previous day’s closing of Rs138.30/Rs138 in cash ready market.

    Related Stories
    Rupee maintains level against dollar

  • Foreign Remittances: Non-filers get exemption on cash withdrawal

    Foreign Remittances: Non-filers get exemption on cash withdrawal

    KARACHI: The government has granted exemption from deduction of income tax on cash withdrawal by non-filers from Pak Rupee bank accounts, which have been opened for receiving foreign remittances.

    Through Finance Supplementary (Second Amendment) Act, 2019 a clause 101A has been inserted to Second Schedule of Income Tax Ordinance, 2001.

    It said: “The provisions of Section 231A shall not apply to Pak Rupee account if the deposits in the account are made solely from foreign remittances credited directly into such account.”

    The Section 231A is related to deduction of withholding tax on cash withdrawal from banking system.

    The government through the latest Act already exempted deduction of withholding tax on cash withdrawal by filers of income tax returns.

    The instant clause also exempts the non-filers of income tax returns if their bank accounts receive foreign remittances.

    Sources in Federal Board of Revenue (FBR) said that the measures have been taken to promote inflows of foreign remittances through normal banking system.

    The sources further said that on normal transactions by non-filers a tax rate of 0.6 percent will apply on cash withdrawal of Rs50,000 per day.

  • Advance tax rates enhanced by 50pc for non-filers on motor vehicle purchase

    Advance tax rates enhanced by 50pc for non-filers on motor vehicle purchase

    KARACHI: The government has allowed non-filers to purchase locally manufactured motor vehicles but at the same time the advance tax rates for non-compliant taxpayers have been increased by 50 percent.

    Federal Board of Revenue (FBR) said that the rates have been revised upward on purchase and registration of new locally manufactured cars by non-filers and these rates would be applicable from the date of approval of Finance Supplementary (Second Amendment) Act, 2019.

    Following are the rates for non-filers on purchase of motor vehicles:

    S. NoEngine capacityOld ratesNew rates
    01Up to 850ccRs10,000Rs15,000
    02851cc to 1000ccRs25,000Rs37,500
    031001cc to 1300ccRs40,000Rs60,000
    041301cc to 1600ccRs100,000Rs150,000
    051601cc to 1800ccRs150,000Rs225,000
    061801cc to 2000ccRs200,000Rs300,000
    072001cc to 2500ccRs300,000Rs450,000
    082501cc to 3000ccRs400,000Rs600,000
    09Above 3000ccRs450,000Rs675,000