Tonnage tax scheme definitions clarify qualifying companies and qualifying ships for shipping tax computation. Defines the tonnage tax scheme terminology: a qualifying company is an Indian company with effective management in India, owning at least one qualifying ship and chiefly operating ships; a qualifying ship is a seagoing or inland vessel meeting tonnage, registration and certification requirements but excluding vessels used mainly for land-like services, fishing vessels, factory ships, pleasure craft, ferries, offshore installations, and ships used as fishing vessels beyond a specified number of days; also defines related concepts including charters, Director-General of Shipping, tonnage income, tonnage tax company, and tonnage tax activities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tonnage tax scheme definitions clarify qualifying companies and qualifying ships for shipping tax computation.
Defines the tonnage tax scheme terminology: a qualifying company is an Indian company with effective management in India, owning at least one qualifying ship and chiefly operating ships; a qualifying ship is a seagoing or inland vessel meeting tonnage, registration and certification requirements but excluding vessels used mainly for land-like services, fishing vessels, factory ships, pleasure craft, ferries, offshore installations, and ships used as fishing vessels beyond a specified number of days; also defines related concepts including charters, Director-General of Shipping, tonnage income, tonnage tax company, and tonnage tax activities.
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