Phantom's brand new price in UK is £216,950 and if you take all taxes like VAT out of this price, they would be not more than £40,000 so
£216,950-40,000= £176,950
£176,950 x 114=Rs 20,172,300
So duty on a brand new would be around Rs 22,500,000
Now suppose if they imported two or more than two years old phantom, duty should be half of
Rs 22,500,000 / 2= Rs 11,250,000
Suppose there is any price variation plus many other factors to cut down the price of this vehicle to certain minimum level, still duty should be between 95 lakh or 1 crore 10 lakh.
They paid 97 lakh in duties, which seems ok.
These phantoms were imported by one by Jang Group, One by Malik Riaz (Bahria Town guy) and another one was also imported but don't know his name.
