Amendments in Chapter XIII -G for giving effect to extension of Tonnage tax scheme to Inland Vessels

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....the said Chapter was extended to Inland vessels registered under Inland Vessels Act, 2021 to promote the inland water transportation. 2. Certain modifications are required in provisions of the said Chapter for aligning them with the Inland Vessels Act, 2021, and rules made thereunder in order to give effect to Tonnage tax scheme extended to inland vessels. 3. In view of the above, it is proposed....

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....tion" issued under the Inland Vessels Act, 2021 states the Net Tonnage of the vessel. Accordingly, the word "certificate" is proposed to be replaced with "certificate of registration" issued under the Inland Vessels Act, 2021 in the aforesaid provision. (III) Section 228 of the Act relates to relevant shipping income and exclusion from book profit. Sub-section (3)(b)(ii)(A) of the said section p....

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.....54 (V) Sub-section (13) of the section 232 of the Act states that a tonnage tax company is required to furnish a copy of the certificate issued by the Director-General of Shipping to the effect that such company has complied with the minimum training requirement as per the relevant guidelines along with the return of income under section 263. Since the designated authority for vessels under Mer....