{"id":2499,"date":"2002-09-13T15:40:49","date_gmt":"2002-09-13T10:10:49","guid":{"rendered":"http:\/\/alpha.ravikiran.com\/blog\/2002\/09\/13\/sachins-ferrari\/"},"modified":"2002-09-13T15:40:49","modified_gmt":"2002-09-13T10:10:49","slug":"sachins-ferrari","status":"publish","type":"post","link":"https:\/\/www.ravikiran.com\/blog\/vintage\/200209\/sachins-ferrari\/","title":{"rendered":"Sachin&#8217;s Ferrari"},"content":{"rendered":"<p>According to the Government, it is in the &#8216;Public Interest&#8217; to exempt  Sachin Tendulkar from paying customs duty of 1.5 crores on the Ferrari that was gifted to him. Others <a href=http:\/\/timesofindia.indiatimes.com\/articleshow.asp?art_ID=22005228>think <\/a> the decision has caused a loss of that much amount to the nation.<\/p>\n<p>The public interest question should be easily resolved. There are a hundred crore of us. Sachin can ask us for 1.5 paise each. Some may refuse, some will pay more. I am sure that it will be easy for him to raise the 1.5 crores required to pay off his duty. <\/p>\n<p>But is the nation <i>losing<\/i> 1.5 crores by exempting Sachin from paying taxes? Customs duty on import of cars is <a href=http:\/\/siamindia.com\/economic-affairs\/customs-duty.htm><i><b>105 percent.<\/b><\/i><\/a> If you were offered a &#8216;gift&#8217; and it turns out that you have to pay <i>more than<\/i> the price of the &#8216;gift&#8217; to get it into India, what would you do? <i>I&#8217;d<\/i> sell off the gift and get the money into India. (Or better still, sell it off and keep the money in a Swiss bank.) Would the country get its 1.5 crores then?<\/p>\n<p>The real loss the country suffers is not when it exempts Tendulkar from paying tax, but when it charges such extortionary taxes. For these tax rates are <i>designed<\/i> to prevent people from importing cars to India. These tax rates are <i>designed<\/i> to benefit car companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Government, it is in the &#8216;Public Interest&#8217; to exempt Sachin Tendulkar from paying customs duty of 1.5 crores on the Ferrari that was gifted to him. Others think the decision has caused a loss of that much amount to the nation. The public interest question should be easily resolved. There are a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/posts\/2499"}],"collection":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/comments?post=2499"}],"version-history":[{"count":0,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/posts\/2499\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/media?parent=2499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/categories?post=2499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ravikiran.com\/blog\/wp-json\/wp\/v2\/tags?post=2499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}