https://www.taxtmi.com/article/detailed?id=16161 GST applies to shipbreaking operations through import taxation on vessels, availability of input tax credit, taxation of scrap and salvaged goods, and the reverse charge mechanism for specified procurements. Imported vessels for breaking attract customs duty and IGST, while the dismantling activity generates taxable supplies of goods such as ferrous scrap, non-ferrous metals, machinery, and reusable equipment. The regime is presented as reducing cascading taxation and simplifying compliance, but it also creates working capital constraints, classification issues, and competitiveness concerns for ship recyclers. en-us Wed, 08 Apr 2026 08:59:08 +0530 Wed, 08 Apr 2026 08:59:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16161 GST applies to shipbreaking operations through import taxation on vessels, availability of input tax credit, taxation of scrap and salvaged goods, and the reverse charge mechanism for specified procurements. Imported vessels for breaking attract customs duty and IGST, while the dismantling activity generates taxable supplies of goods such as ferrous scrap, non-ferrous metals, machinery, and reusable equipment. The regime is presented as reducing cascading taxation and simplifying compliance, but it also creates working capital constraints, classification issues, and competitiveness concerns for ship recyclers. Articles Goods and Services Tax - GST Wed, 08 Apr 2026 08:59:08 +0530 https://www.taxtmi.com/article/detailed?id=16161