Mar
16
Govt lists significant tax incentives for maritime sector proposed in Budget 2016-17
The government of India has proposed the following tax incentives in the Budget 2016-17 for strengthening and promoting the Indian maritime sector: (i) Exclusion of services of transportation of import cargo by ships on voyage charter from Negative List Freight charged by shipping companies for import of goods into India has been excluded from the Negative List and permitted availment of CENVAT credit on inputs used for providing such service. This will bridge the competitive gap between Indian and foreign Read Full Details…