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Ports conferred with key infrastructure status for dredging projects
01 Mar '07
2 min read
“We have been asking for bringing profit-on-sale of ships out of purview of Maximum Alternate Tax (MAT) and interest income on tonnage tax reserve. Besides these two, budget did not address the issues of seafarers' taxation," INSA President Yudhishthir Khatau said.
Certain aspects related to taxes on Indian shipping industry have not been addressed. Service tax on renting of immovable property for business purposes along with additional one percent cess towards education will push up operating costs, Ramakrishnan added
Shipowners demand scrapping of 12 taxes including withholding tax on interest on external commercial borrowings (ECBs).
Certain aspects related to taxes on Indian shipping industry have not been addressed. Service tax on renting of immovable property for business purposes along with additional one percent cess towards education will push up operating costs, Ramakrishnan added
Shipowners demand scrapping of 12 taxes including withholding tax on interest on external commercial borrowings (ECBs).
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