[vc_row][vc_column][vc_column_text]In order to support the Indian shipping industry, the Government of India has exempted Customs and Excise Duty leviable on bunker fuels used in Indian flag vessels for transportation of mix of Export-Import, domestic and empty containers between two or more ports in India. Government has brought in a uniform abatement of service tax for transportation of goods by rail, road and sea vessels.
Indian Shipping industry has been provided cargo support through Right of First Refusal (RoFR). Government has taken policy decision to allow shipping enterprises based in India to acquire ships abroad and also flag them in the Country of their convenience. As a step towards promoting “Ease of Doing Business” methodology for computation of period of stay of seafarers in India has been redefined. Further, acquisition of all types of ships has been brought under the Open General Licence.
The procedure for the registration of an Indian flag vessels under the Merchant Shipping Act, 1958 have been simplified and the work of issuance of General Trading license (GTLs) granted to Indian flag merchant ships by the Directorate General of Shipping has been decentralized. In addition, a onetime GTL is now issued, which is co-terminus with the certificate of registry of that ships.[/vc_column_text][/vc_column][/vc_row]